Headlines From China: Year-Ender 2020: Newcomers Who Rock China’s Culture Industry

Year-Ender 2020: Newcomers Who Rock China’s Culture Industry

2020 will be coming to an end in a blink of an eye. Although the global culture industry was handed a heavy blow by the COVID-19 pandemic, some newcomers have rocked China’s cultural circles through their artistic works or influence. CGTN Culture wrapped up this year’s cultural rockers to see how they changed the landscape in China. Read more CGTN

Will Luxury Suffer From China’s Crackdown On Millennial Debt?

Under pressure from Chinese regulators, fintech giant Ant Group has amended the credit limits for its consumer-lending platform Huabei “to promote more rational spending habits” for certain young borrowers, according to The Wall Street Journal. Getting fast and easy access to small loans has contributed to younger consumers struggling financially. But it has also helped to support China’s economic development, as domestic consumption contributed 76 percent of China’s GDP in 2018. Read more Jing Daily