Wealth

In China's anti-corruption efforts, one group of unlikely "allies" has emerged — the descendants of Chinese officials. These young people flaunt their family's wealth on social media, often prompting investigations that usually uncover confirmed corruption. But while this self-sabotage does work, systemic efforts are what is needed.

In the first summer vacation since Covid-19 lockdowns were lifted in China, study tour operators are back in full force throughout the country. Interestingly, two extremes have emerged in terms of spending on such tours depending on region and family income. Against a backdrop of uneven economic development and unequal distribution of educational resources across China, will this polarisation aggravate its social stratification problem?

While members of the “Fujian gang” have made the news recently for their billion-dollar money-laundering case, less is known about their lavish lifestyles and the trails their clandestine activities leave behind. Zaobao senior correspondent Poh Lay Hoon reports.

Zhongwang Group founder Liu Zhongtian was once on the Forbes list of China's richest billionaires. But he has now come under legal restraint and his company has filed for bankruptcy. What went wrong?

Singapore has become a top choice for high-net-worth individuals (HNWIs) to live in because of its pro-business environment, transparent system, as well as a stable and harmonious society. With increasing numbers of HNWIs immigrating here, many people are curious and concerned about who they are and how HNWIs are contributing to local society and communities. Lianhe Zaobao correspondent Wang Hwee Wen interviews HNWIs from China and Bangladesh to find out about their new lives in Singapore.

Li Ka-shing is familiar to many as an icon of Hong Kong entrepreneurs. Businessman Lew Mon-hung examines Li’s life-long contributions as the legend approaches his 95th birthday.

Jack Ma’s recent return to China has made waves and offers some hope for the revival of the entrepreneur class in China. But this group of people have never shaken off their dual identity as entrepreneur-capitalists. With the rise of a group of diehards romanticising the glory of past eras, entrepreneurs, and in turn the development of China’s market economy, face obstacles.

As the world’s second largest economy, China’s domestic consumption has a major influence on the global economy. The Chinese government has said that its focus is on boosting China's domestic economy and consumption. But how should it go about achieving it? Researcher Ding Ke says it depends on the kind of society China wants to build.

EAI senior research fellow Lance Gore explains why the sudden reversal of globalisation, constant turbulence due to global developments and the fragmentation of international relations are some very real coordinates of China’s "new era". In response, apt and concrete policies along the socialism axis can be devised to meet the challenges.