https://www.forbes.com/sites/ywang/ en-us https://blogs-images.forbes.com/ywang/files/2018/01/Yue-Wang_avatar_1515375789-400x400.jpg https://www.forbes.com/sites/ywang/ Yue Wang's stories. Copyright 2025 Forbes Media LLC https://www.forbes.com/sites/ywang/2025/02/17/president-xi-jinping-meets-chinas-top-tycoons-in-rare-show-of-support/ President Xi Jinping met some of China’s most prominent tycoons, sending what analysts say is the strongest signal of support in years to companies like web giants Alibaba and Tencent. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_67b2c0a8e564ce65f7b0800d Mon, 17 Feb 2025 01:30:21 -0500 2025-02-17T02:11:10-05:00 President Xi Jinping met some of China’s most prominent tycoons, sending what analysts say is the strongest signal of support in years to companies like web giants Alibaba and Tencent. Andy Wong-Pool/Getty Images Asia /asia Asia /asia China’s 100 Richest 2024 /china-billionaires Business /business Innovation /innovation Leadership /leadership Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2025/02/14/ai-boyfriends-make-chinese-gaming-entrepreneur-yao-runhao-a-billionaire/ Shanghai-based Paper Games' game Love and Deepspace is a hit based on virtual boyfriends generated by AI. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_67af05c84f1f0042d2d62701 Fri, 14 Feb 2025 05:55:38 -0500 2025-02-14T10:16:40-05:00 Shanghai-based Paper Games' game Love and Deepspace is a hit based on virtual boyfriends generated by AI. CFOTO/Future Publishing via Getty Images Asia /asia Asia /asia Business /business Innovation /innovation Gaming /gaming China’s 100 Richest 2024 /china-billionaires Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2025/02/13/chinese-search-giant-baidu-surges-over-11-after-making-chatbot-free/ Shares in Chinese search giant Baidu surged as much as 11.7% in Hong Kong on Thursday after it announced it will make its AI chatbot free of charge starting April 1. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_67ad8ed5c6e051084f757d9b Thu, 13 Feb 2025 02:14:39 -0500 2025-02-13T04:02:51-05:00 Shares in Chinese search giant Baidu surged as much as 11.7% in Hong Kong on Thursday after it announced it will make its AI chatbot free of charge starting April 1. CFOTO/Future Publishing via Getty Images Asia /asia Asia /asia China’s 100 Richest 2024 /china-billionaires Business /business Innovation /innovation Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2025/02/12/alibabas-shares-surge-on-report-of-ai-partnership-with-apple-in-china/ Shares of Chinese e-commerce giant Alibaba surged in Hong Kong on Wednesday after The Information reported the company is working with Apple to introduce AI features to iPhone users in China. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_67ac4c3aaf9743329dff1ee4 Wed, 12 Feb 2025 02:47:45 -0500 2025-02-12T04:10:19-05:00 Shares of Chinese e-commerce giant Alibaba surged in Hong Kong on Wednesday after The Information reported the company is working with Apple to introduce AI features to iPhone users in China. Chesnot/Getty Images Asia /asia Asia /asia China’s 100 Richest 2024 /china-billionaires Business /business Innovation /innovation Leadership /leadership Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2025/02/11/milk-tea-mogul-wang-is-chinas-latest-billionaire-after-gumings-ipo/ Wang Yun’an, the 38-year-old founder of Chinese milk tea company Guming Holdings, has become a billionaire after the chain listed in Hong Kong on Wednesday. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_67ac156d35ff785710364df7 Tue, 11 Feb 2025 22:58:37 -0500 2025-02-12T00:10:45-05:00 Wang Yun’an, the 38-year-old founder of Chinese milk tea company Guming Holdings, has become a billionaire after the chain listed in Hong Kong on Wednesday. Liu Junfeng/VCG via Getty Images Asia /asia Asia /asia Business /business China’s 100 Richest 2024 /china-billionaires Retail /retail Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2025/02/10/xiaomis-lei-jun-becomes-chinas-fifth-richest-person-on-ev-optimism/ Lei Jun, founder of Chinese tech giant Xiaomi, is now the fifth richest billionaire in China thanks to investors' confidence in the EV business. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_67a98bd855170377af687683 Mon, 10 Feb 2025 01:45:25 -0500 2025-02-10T02:10:16-05:00 Lei Jun, founder of Chinese tech giant Xiaomi, is now the fifth richest billionaire in China thanks to investors' confidence in the EV business. VCG via Getty Images Asia /asia Asia /asia Business /business Innovation /innovation Leadership /leadership China’s 100 Richest 2024 /china-billionaires Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2025/02/05/chinas-wang-could-be-worth-1-billion-as-tea-chain-lists-in-hong-kong/ Wang Yun’an, the 38-year-old founder of Guming Holdings, is on the cusp of becoming a billionaire as his company prepares for an initial public offering in Hong Kong. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_67a2fe75714ad153e24c4214 Wed, 05 Feb 2025 01:15:11 -0500 2025-02-05T02:10:57-05:00 Wang Yun’an, the 38-year-old founder of Guming Holdings, is on the cusp of becoming a billionaire as his company prepares for an initial public offering in Hong Kong. Chen Xiaoke/VCG via Getty Images Asia /asia Asia /asia China’s 100 Richest 2024 /china-billionaires Business /business Leadership /leadership Innovation /innovation Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2025/01/27/chinas-deepseek-makes-robust-popular-ai-product-despite-us-curbs/ Similar to ChatGPT, the chatbot can perform tasks such as answering questions, drafting content and helping users gather information. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_679726ba5f27cb61b6b534d3 Mon, 27 Jan 2025 01:35:30 -0500 2025-01-27T03:33:46-05:00 Similar to ChatGPT, the chatbot can perform tasks such as answering questions, drafting content and helping users gather information. Omer Taha Cetin/Anadolu via Getty Images Asia /asia Asia /asia China’s 100 Richest 2024 /china-billionaires Innovation /innovation Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2025/01/16/china-meets-2024-growth-target-of-around-5-after-stimulus-measures/ China’s economy expanded 5% in 2024, meeting the official target of “around 5%” growth after stimulus measures introduced late last year appear to be working. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_6789d12b36f9a10e1c06e017 Thu, 16 Jan 2025 22:46:54 -0500 2025-01-16T22:47:00-05:00 China’s economy expanded 5% in 2024, meeting the official target of “around 5%” growth after stimulus measures introduced late last year appear to be working. China Photos/Getty Images Asia /asia Asia /asia China’s 100 Richest 2024 /china-billionaires Business /business Leadership /leadership Small Business /small-business Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2025/01/16/ai-mogul-chen-tianshi-amasses-10-billion-fortune-as-shares-soar-500/ Chen Tianshi, cofounder of Chinese chip company Cambricon Technologies, saw his net worth soar to $10 billion after the company’s Shanghai-listed shares skyrocketed 500% in 2024 amid China’s push for technology self-reliance. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_678887e61aef2e6c7732b9c1 Thu, 16 Jan 2025 00:47:10 -0500 2025-01-17T02:59:15-05:00 Chen Tianshi, cofounder of Chinese chip company Cambricon Technologies, saw his net worth soar to $10 billion after the company’s Shanghai-listed shares skyrocketed 500% in 2024 amid China’s push for technology self-reliance. Xinhua/Yin Gang via Getty Images Asia /asia Asia /asia Business /business China’s 100 Richest 2024 /china-billionaires Innovation /innovation Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2025/01/09/chinese-toy-entrepreneur-zhu-becomes-billionaire-after-frenzied-ipo/ Zhu Weisong is China’s newest billionaire after a strong market debut of his Bloks Group in Hong Kong. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_678092da715a9f4e0d44286b Thu, 09 Jan 2025 23:20:30 -0500 2025-01-10T01:32:32-05:00 Zhu Weisong is China’s newest billionaire after a strong market debut of his Bloks Group in Hong Kong. Courtesy of Bloks Asia /asia Asia /asia Business /business China’s 100 Richest 2024 /china-billionaires Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2025/01/06/tencent-plunges-after-landing-on-us-list-of-military-linked-firms/ Chinese web giant Tencent was added to a U.S. list of military-linked firms, spooking investors and triggering as much as a 7% plunge in its Hong Kong-listed shares. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_677ca34ae13a42279e2ad738 Mon, 06 Jan 2025 22:55:42 -0500 2025-01-06T23:20:23-05:00 Chinese web giant Tencent was added to a U.S. list of military-linked firms, spooking investors and triggering as much as a 7% plunge in its Hong Kong-listed shares. Lintao Zhang/Getty Images Asia /asia Asia /asia Business /business Innovation /innovation China’s 100 Richest 2024 /china-billionaires Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2025/01/02/alibaba-to-sell-chinese-hypermarket-operator-as-it-focuses-on-core-business/ Private equity firm DCP Capital has agreed to acquire Alibaba’s majority stake in Sun Art, which operates the RT-Mart chain and the Costco-like M-Club membership stores across China. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_677623e55ae58b6a6f5e319e Thu, 02 Jan 2025 01:37:57 -0500 2025-01-02T01:38:09-05:00 Private equity firm DCP Capital has agreed to acquire Alibaba’s majority stake in Sun Art, which operates the RT-Mart chain and the Costco-like M-Club membership stores across China. Giulia Marchi/Bloomberg Asia /asia Asia /asia Business /business Billionaires /worlds-billionaires Editors' Pick editors-pick Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2024/12/17/e-commerce-giant-alibaba-sells-intime-luxury-store-chain-at-big-loss/ Alibaba Group Holding is selling its stake in Chinese department store chain Intime for 7.4 billion yuan ($1 billion), which will lead to record losses of 9.3 billion yuan. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_676106177a999b358b48062d Tue, 17 Dec 2024 02:03:28 -0500 2024-12-19T07:17:41-05:00 Alibaba Group Holding is selling its stake in Chinese department store chain Intime for 7.4 billion yuan ($1 billion), which will lead to record losses of 9.3 billion yuan. CFOTO/Future Publishing via Getty Images Asia /asia Asia /asia China’s 100 Richest 2024 /china-billionaires Business /business Retail /retail Innovation /innovation Leadership /leadership Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2024/12/09/makeup-artist-mao-geping-becomes-billionaire-after-companys-hot-ipo/ Mao Geping, the 60-year-old makeup artist, has become a billionaire thanks to a successful listing of his eponymous cosmetics brand in Hong Kong. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_6757a25cf781470c6a6b9420 Mon, 09 Dec 2024 23:15:46 -0500 2024-12-19T07:14:40-05:00 Mao Geping, the 60-year-old makeup artist, has become a billionaire thanks to a successful listing of his eponymous cosmetics brand in Hong Kong. Huang Zongzhi/Xinhua via Getty Images Asia /asia Asia /asia China’s 100 Richest 2024 /china-billionaires Business /business Leadership /leadership Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2024/12/02/makeup-artist-mao-geping-close-to-billionaire-ahead-of-hong-kong-ipo/ The 60-year-old chairman of the company has amassed wealth of $830 million mostly based on a family stake in Mao Geping Cosmetics Co., according to Forbes estimates. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_674d561262e2740a60ffa7cc Mon, 02 Dec 2024 03:28:21 -0500 2024-12-03T04:27:28-05:00 The 60-year-old chairman of the company has amassed wealth of $830 million mostly based on a family stake in Mao Geping Cosmetics Co., according to Forbes estimates. Han Haidan/China News Service via Getty Images Asia /asia Asia /asia China’s 100 Richest 2024 /china-billionaires Business /business Premium Content premiumcontent asia standard https://www.forbes.com/sites/ywang/2024/11/29/why-chinese-online-travel-platform-tripcoms-18-billion-rally-may-have-more-room-to-grow/ Even as an economic slowdown dampens domestic consumer spending, China’s travel boom shows no signs of abating thanks to adventure-seeking millennials, says Jane Sun, CEO of online travel bookings platform Trip.com Group. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_674996dc852be51fc9c7c9b8 Fri, 29 Nov 2024 06:20:48 -0500 2024-12-05T03:46:55-05:00 Even as an economic slowdown dampens domestic consumer spending, China’s travel boom shows no signs of abating thanks to adventure-seeking millennials, says Jane Sun, CEO of online travel bookings platform Trip.com Group. Hero Image Getty Images Asia /asia Asia /asia Editors' Pick editors-pick Premium Content premiumcontent asia premium https://www.forbes.com/sites/ywang/2021/05/25/kuaishou-cofounders-suffer-3-billion-wealth-wipeout-amid-surging-costs-and-widening-losses/ The cofounders of the short video platform saw their wealth drop after issuing a disappointing earnings report. Yue Wang, Senior Contributor Yue Wang, Senior Contributor https://www.forbes.com/sites/ywang/ content_60acbff557a281000607ab02 Tue, 25 May 2021 06:51:06 -0400 2024-12-19T07:13:22-05:00 The cofounders of the short video platform saw their wealth drop after issuing a disappointing earnings report. © 2021 Bloomberg Finance LP Asia /asia Asia /asia Billionaires /worlds-billionaires Business /business Innovation /innovation Consumer Tech /consumer-tech asia standard