Earthquake Hits Southwest China, Tencent Buys Shares in Meituan, Beijing’s Crypto Crackdown Continues

Here is today’s ranking of the 10 most-read news stories in China, in economics, finance and current affairs, to help give you a sense of what’s trending in the Chinese language sphere.

Chinese social media users have been paying close attention to the Pakistan bus explosion that killed nine Chinese and three Pakistanis. They have also been following the country’s continued crackdown on the cryptocurrency industry.

1. 4.8-magnitude earthquake hits southwestern Chinese province

A 4.8 magnitude earthquake hit Wenchuan county (external source, in Chinese), Sichuan province, at 11:36 p.m. Wednesday, according to the China Earthquake Network Center. The Sichuan Earthquake Bureau said there were no casualties.

2. University of Hong Kong cuts ties with student union

The University of Hong Kong (external source, in Chinese) severed all ties with its student union after it passed a resolution on the “sacrifice” of a man who stabbed a police officer on July 1 before committing suicide.

3. Tencent buys over 11 million shares in Meituan

China’s delivery giant Meituan (external source, in Chinese) announced Tuesday that it has sold 11.35 million shares to Tencent, in a deal expected to generate net proceeds of about $400 million. After the deal, Tencent holds a total of 17.2% of Meituan’s shares.

4. Pakistan bus explosion that killed nine Chinese caused by bomb

An explosion on a bus in northern Pakistan killed nine Chinese nationals and three Pakistanis while injuring dozens more Wednesday morning. Chinese Foreign Ministry spokesman Zhao Lijian had blamed a “bomb attack” for the Chinese casualties.

Photo: VCG

5. Covid-19 outbreak in Tokyo hotel hosting Brazilian athletes

Eight staff members at a Japanese hotel hosting Brazil’s Olympic judo team (external source, in Chinese) have tested positive for coronavirus, local officials said Thursday. The 31-member Brazilian Olympic delegation, including judo athletes, is currently in an isolation area at the hotel.

6. China deals another blow to its crypto miners

China dealt another blow to its beleaguered cryptocurrency industry, with Anhui province becoming the latest to crack down on the practice of using power-hungry machines to mint Bitcoin and other virtual currencies.

7. Millions of Indians to make pilgrimage to Ganges amid pandemic

India’s Uttar Pradesh government approved an annual Hindu pilgrimage (external source, in Chinese) on Tuesday, when millions of people are expected to travel long distances to the Ganges River to fetch water, increasing the risk of another outbreak of the epidemic.

8. Most British don’t support four-day work week if it means pay cuts, study shows

According to a report by The Social Market Foundation, 80% of U.K. employees do not favor a reduction in working hours (external source, in Chinese) if it is accompanied by a reduction in income, though 10% do.

9. US first lady Jill Biden to attend Tokyo Olympics opening ceremony

U.S. first lady Jill Biden (external source, in Chinese) will attend the opening ceremony of the Tokyo Olympics on July 23 without President Joe Biden, the White House announced Tuesday. It will be her first trip abroad as first lady.

10. Nearly all members of the Chinese delegation to Tokyo Olympics vaccinated

Nearly all members of the Chinese delegation to the Tokyo Olympics (external source, in Chinese) have been vaccinated, according to an announcement Wednesday. The delegation has a total of 777 members, including 431 athletes.

Translated by intern reporter Chen Bingyi

Caixin has not independently verified the veracity or accuracy of all of the headlines.

The daily ranking of most read news stories among Chinese people, about China and global affairs, is jointly provided to you by Caixin Insight and HANA Data, an artificial intelligence technology team.

The key indicators calculated on the list are based on mass data sourced from China’s mainstream social media platforms and online news websites. Click here for a detailed introduction of our methodology.