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Hu Xiaowei constructed a global network of businesses suspected of being used to launder of Prince Group’s profits.

Cover Story: Unmasking the Architect of a Global Cybercrime Empire

Armed with multiple identities, Hu Xiaowei constructed an international network of businesses suspected of being used to launder the profits of Prince Group’s multibillion-dollar scams

Z.AI's GLM-5.3 uses the same base model as its predecessor, GLM-5.2, but the firm substantially scaled post-training. Photo: VCG

Z.AI Pushes AI Model With Coding Edge to Rival Anthropic, Open AI

Chinese AI startup is maximizing post-training efficiency to compete in the fierce global AI race as its annual recurring revenue hits $1 billion

In Depth: How Gamed AI Answers Can Lead Investors Astray

Generative engine optimization has emerged as a way to shape what chatbots say about companies, and its abuse threatens to undermine the integrity of financial information

In 2025, 3,378 key emitting entities were subject to quota management under the national market. Photo: VCG

China to Add Petrochemicals, Chemicals to National Carbon Market

Move would bring about 80% of the country’s carbon dioxide emissions under carbon trading as Beijing broadens price signals for heavy industry and prepares exporters for tougher overseas climate rule

China Cuts 670 Rural Banks as Financial Sector Overhaul Accelerates

Regulator says the number of legal-entity financial institutions fell by 711 in 2025, highlighting Beijing’s push to merge weaker regional lenders into larger, better-capitalized banks

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Aug 14, 2026 03:23 PM
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Analysis: Chinese Automakers Learn the Hard Way How to Sell Cars Overseas

From painful breakups with distributors to ideological frictions with dealers, China’s car companies are still learning the complexities of building sales channels in mature markets abroad

Aug 17, 2026 06:16 PM
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China’s Retail Sales Growth Unexpectedly Slows

Weak auto and property-related spending drag down consumption

Aug 17, 2026 06:10 PM
Lingxi Games is best known for its hit strategy game Three Kingdoms: Strategy Edition. Photo: Lingxi Games

Alibaba to Sell Gaming Unit as It Sharpens AI Focus

Deal with private equity firm Trustar Capital follows a similar move by ByteDance as Chinese internet giants shed non-core assets to focus on AI

Aug 17, 2026 04:58 PM
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Opinion: The PBOC’s Blueprint to Reshape China’s Financial System

Beijing aims to sidestep the pitfalls of excessive Western financialization, building capital markets to fuel its high-tech and industrial ambitions

Aug 17, 2026 04:51 PM
A lithium carbonate plant in Bolivia. Photo: VCG

In U.S.-China Rivalry, U.N. Urges Latin America to Avoid Choosing Sides

A new report encourages the region to leverage its vast natural resources to forge flexible partnerships as Beijing expands its economic footprint and Washington reasserts its dominance in the hemisphere

Aug 17, 2026 04:45 PM
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Chinese Banks’ Margin Squeeze Eases for First Time Since 2021

First-half profit decline narrows as state-owned megabanks return to growth

Aug 17, 2026 01:58 PM
Photo: VCG

Commentary: China’s Embrace of Cinematic Schlock Hides a Low-Key Protest

The viral box office success of the spectacularly terrible animated film ‘Niulai’ shows Chinese audiences would rather pay for a raucous disaster than sit through another mediocre blockbuster

Aug 17, 2026 11:14 AM
Facing fierce competition and a narrowing technological gap with low-cost Chinese alternatives, U.S. AI giants are pouring unprecedented amounts of borrowed capital into infrastructure. Photo: VCG

Commentary: How the U.S. AI Boom Echoes the Financial Crisis

Under intense competition from cheaper Chinese models, Silicon Valley giants are relying on shadowy, complex financing arrangements to fund staggering infrastructure investments, stoking systemic risks reminiscent of 2008

Aug 17, 2026 10:32 AM
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CX Daily: How Gamed AI Answers Can Lead Investors Astray

Generative engine optimization has emerged as a way to shape what chatbots say about companies, along with ways to abuse it

Aug 17, 2026 09:00 AM
In the first seven months of 2026, new yuan loans totaled 10.38 trillion yuan, down nearly 20% from a year earlier. Photo: IC

China’s New Bank Loans Shrink in July as Borrowing Demand Stays Weak

A drop in household and corporate lending missed expectations, while heavy government bond issuance lifted broader credit growth

Aug 15, 2026 01:05 AM
Banks’ efforts to rein in funding costs have pushed average rates on time deposits and large-denomination certificates of deposits lower in recent years. Photo: VCG

China’s Five-Year Deposit Rates Edge Up as Smaller Lenders Compete for Deposits

Rural and privately owned lenders lifted some long-term rates to compete with state-owned banks, whose return to five-year certificates of deposits has added to pressure on smaller institutions already grappling with weak margins

Aug 15, 2026 12:45 AM

The Week Ahead (Aug. 17-23): U.S. Imposes Tariffs on Canadian Goods

Ecuador’s president makes a state visit to China; the Chengdu Auto Show features nearly 120 auto brands

Aug 14, 2026 11:58 PM
On Aug. 12, Insta360 launched its new flagship 360-degree camera X6, with a starting price of 3,999 yuan. The following day, DJI released its second-generation 360-degree camera Osmo 360 II, with a starting price of 3,299 yuan. Photo: VCG

China’s DJI and Arashi Vision Escalate Battle for 360-Camera Market

The companies’ latest product launches highlight a widening contest over smart imaging, with intelligent editing emerging as a key battleground in efforts to broaden mainstream adoption

Aug 14, 2026 11:29 PM
Didi released its 2026 second-quarter earnings report on Aug. 13, showing a net profit of 869 million yuan and swinging to a profit from a year earlier. Photo: VCG

Didi Swings to Quarterly Profit, but Overseas Push Weighs on First-Half Results

Chinese ride-hailing giant returned to the black in the second quarter, while rising subsidies and marketing costs in international markets, especially Latin America, continued to erode earnings

Aug 14, 2026 11:02 PM
Harry Yeh. Photo: Yeh’s social media account

Crypto Investor Harry Yeh Dies in Mysterious Plunge From Paraguay High-Rise

Authorities investigate the 40-year-old’s naked plunge from a 30th-floor luxury apartment

Aug 14, 2026 07:16 PM

Tech Brief (Aug. 14): DeepSeek Launches V4-Pro and Raises API Prices by as Much as 1,100%

WeRide targets break-even by 2029 with driver-assistance sales, asset-light overseas push, Honor’s new smartphone doubles as a robotic camera operator

Aug 14, 2026 06:40 PM



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