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When China’s economy met World Cup 2026

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. Spain's team celebrates on the podium at the MetLife Stadium in New Jersey, USA, after defeating Argentina 1-0 to win the 2026 FIFA World Cup, July 19, 2026. /VCG Editor's note: Ankit Prasad is a biz commentator. The article reflects the author's views and not necessarily those of CGTN. The greatest show on Earth concluded in dramatic fashion on Sunday in New Jersey with Spain emerging world champions against Argentina, but several time zones ahead, the watch party in China went on all night. In what has been the biggest World Cup by many metrics, most notably in terms of structure with its 48 teams, and with FIFA projecting tournament revenues in excess of $9 billion, one of the most astounding stats was to be found on the CMG live stream that this author was hooked on to for a majority of the 104 matches. At the climax of the FIFA World Cup Final, the concurrent viewers counter read an incredible 90 million, with the comments-box moving so fast it was impossible to read. And that was just one of the many streams on offer, for a match that kicked off at 3 a.m.

July 20, 2026

Business

This robot hand gets ‘real’

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. A new robotic hand from 1X Technologies, a Norwegian humanoid robot company, claims to have approached human-level dexterity, with fully actuated fingers, palm and thumb. It can assemble LEGO, change light bulbs and pour tea with a level of fluidity that is almost human.

July 20, 2026

Business

China’s H1 industrial output up 5.4% as innovation accelerates

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. A construction worker welds pipeline supports under high temperatures at the construction site in Zhangye, Gansu Province, China, July 8, 2026. /VCG China's industrial sector maintained stable growth and continued to be a key driver of the economy in the first half of 2026, officials from the Ministry of Industry and Information Technology said at a press conference on Monday. The value-added output of major industrial enterprises increased by 5.4% year on year, with 32 of the country's 41 major industrial sectors reporting growth, Wang Weiming, the chief engineer of the ministry, said. He noted that corporate profitability improved while strong global demand for products related to artificial intelligence and green development helped boost exports of integrated circuits, electronic components and wind turbines. According to Wang, growth was also supported by major industrial provinces and advanced manufacturing sectors, including electronics, automobiles and electrical machinery.

July 20, 2026

Business

Dim sum and bubble tea at 3am: football fans pack Hong Kong malls for World Cup final

‘A lot of people are here for both teams. It feels like a stadium – it’s better to be here,’ football fan Shannon Dias says Hong Kong football fans swapped their living rooms for shopping centres to watch the World Cup final, enjoying dim sum, snacks and milk tea as vendors set up pop-up stands beside giant screens. At around 3am on Monday, crowds filled all three floors of Tuen Mun Town Plaza for the match between Spain and Argentina. Cheers erupted as Lionel Messi and Lamine Yamal appeared on a 540-inch screen, building to a crescendo when Spain clinched victory. Families with children and elderly fans were among those who turned out for the late-night screening. Stalls and restaurants sought to capitalise on the crowds, setting up booths nearby and offering bubble tea and dim sum delivered directly to the viewing area. Supermarket chain ParknShop stayed open overnight, selling drinks and fruit, while some spectators ordered additional food deliveries to the venue.

July 20, 2026

Business

China can turn plastic waste to jet fuel at a low cost: study

The world produces 460 million tonnes of plastic a year, creating a devastating environmental problem. China may have an answer Global plastic production exceeds 460 million tonnes annually, and the material’s resistance to degradation is fuelling growing concern about its environmental impact. The research, conducted by a joint team from the Shanghai Advanced Research Institute of the Chinese Academy of Sciences and Fudan University, centres on the hydrogenolysis of polyolefins. The reaction operates under relatively mild conditions and offers tunable product selectivity, allowing researchers to steer the conversion towards desired hydrocarbon ranges. Polyolefins – primarily polythene and polypropylene – account for over 60 per cent of plastic waste, yet they are notoriously inert and difficult to break down. At the heart of this chemistry lie metal catalysts, which provide the active sites for selectively cleaving and rearranging carbon‑carbon bonds. However, a fundamental challenge has long plagued this route.

July 20, 2026

Business

Malaysia aims for 600,000 South Korean arrivals in new travel drive

As Malaysia pushes to welcome 47 million international visitors under this year’s travel campaign, the country is setting its sights on bringing South Korean arrivals back above pre-pandemic levels by promoting authentic local experiences beyond its well-known beach resorts and city attractions. “South Korea is one of our priority markets,” Kamilia Hani Abdul Halim, director of Tourism Malaysia Seoul, said in an interview. Last year, about 558,000 South Koreans visited Malaysia, making it the...

July 20, 2026

Business

Is Hong Kong doing enough to lose its top spot for expensive housing?

For all the city’s recent successes, the benefits are not translating to more affordable lives for many Hongkongers We managed to keep our top spot despite a 10 per cent drop in property prices from pre-pandemic levels. Naturally, this is not something Chief Executive John Lee Ka-chiu will be blowing his horn about. Generations of Hongkongers have been priced out of the city’s property market. Wages have not kept up. In the Deutsche Bank report, we are ranked 30th out of 69 cities in terms of monthly salary. According to the annual Demographia International Housing Affordability Survey, it would take a household 14.1 years of income, without other expenses, to buy a median-priced home in Hong Kong. The city is at the top of that survey, too, holding the title of the world’s most unaffordable housing market for 16 straight years.

July 20, 2026

Business

US ‘hit Iran very hard’, Trump says, as both inch closer to all-out war

The United States began a new round of air strikes early on Monday targeting Iran after announcing the death of another American service member, and Iran fired missiles towards Jordan that risked widening the conflict into neighbouring Israel. Step by step, the US and Iran have inched closer to all-out war as last month’s interim deal meant to permanently end the fighting has crumbled and shipping traffic in the Strait of Hormuz has largely stalled. Both sides have targeted civilian...

July 20, 2026

Business

China court orders wedding party to pay US$34,000 after brutal bridesmaid prank

Young woman in Henan suffers spinal fracture and becomes disabled after nuptial hazing activity goes wrong A 20-year-old woman from central China who served as a bridesmaid had one of her vertebrae fractured and became seriously disabled after a prank activity at a wedding. A court in Ruyang county, in Henan province, released its verdict on the case to the public in early July, aiming to raise awareness of the controversial wedding revelry, news portal gmw.cn reported. As part of nuptial ceremonies, wedding hazing, called hun nao in Chinese, dates back thousands of years, originally being intended to create a fun atmosphere and to expel evil spirits. Still popular in many parts of the country, it has drawn widespread criticism in recent years after the ritual has sometimes devolved into humiliation and even violence. Newlywed couples and bridesmaids are the main targets of the teasing. On October 4, 2023, the woman, surnamed Zhang, was invited to the wedding as a bridesmaid of the bride Li, who was her friend, and the groom.

July 20, 2026

Business

Hong Kong prepares for sweeping reforms following end of Tai Po blaze inquiry

Political observers also expect senior officials, including ministers, to take accountability for blaze once committee submits report Hong Kong authorities are set to roll out sweeping reforms following the conclusion of the investigation into the city’s deadliest fire in decades, including criminalising bid-rigging and overhauling fire safety and property management laws. Political observers also expected senior officials, including ministers, to take accountability for the blaze once the committee submits its report, which sources said would be delayed by a month to late October due to the extra time needed to review documents. The inferno, which engulfed seven of the eight blocks in Wang Fuk Court in Tai Po on November 26 last year, killed 168 people and displaced nearly 5,000 residents. A focus of the inquiry was the alleged bid-rigging in the HK$336 million (US$43 million) maintenance project that was under way when the estate went up in flames. The substandard materials used in the renovations were found to have contributed to the exponential spread of the fire, while at least two bid-rigging syndicates were identified as “potentially linked” to the tender.

July 20, 2026

Business

Red rainstorm warning lowered to amber but unsettled weather to persist

Forecaster reissues amber warning at 9.30am, nearly 1½ hours after raising the red signal Hong Kong’s weather forecaster downgraded the red rainstorm warning to amber on Monday morning, but warned that unsettled weather would continue to affect the city over the next day. The Hong Kong Observatory reissued the amber rainstorm warning at 9.30am, nearly 1½ hours after raising the red signal at 8.05am. Authorities earlier urged schools to implement contingency measures to ensure students’ safety while the red rainstorm warning was in force. “Schools which are in session should continue until the end of school hours. They should ensure that conditions are safe before allowing students to return home,” it said. The forecaster added that a broad trough of low pressure would bring showers and thunderstorms to Guangdong on Monday and Tuesday. Conditions are expected to improve gradually in the middle to latter part of the week, with fine and very hot weather returning.

July 20, 2026

Business

Beggar’s banquet: South Korea’s young consumers turn extreme budgeting into a game

South Korea’s youth unemployment rate reached 7.4 per cent in the first quarter of 2026 – the highest since 2021 Crowdsourced platform Geoji Map has turned the search for ultra-cheap meals into a viral online activity. Its name, which literally translates as “Beggar Map”, reflects a broader Korean slang trend of using “beggar” humour to describe surviving on a tight budget. The platform attracted 1.3 million visitors within a month of its March 20 launch by helping users locate low-cost meals, reflecting how some young people are reframing extreme frugality as a way to cope with mounting financial pressure. The economic strain comes as South Korea’s youth unemployment rate reached 7.4 per cent in the first quarter of 2026 – the highest since 2021 – while consumer inflation rose 2.2 per cent year on year in March. Geoji Map was created by 34-year-old software developer Choi Sung-soo after he lost his job in an AI-related restructuring. While living on his severance pay, Choi capped his daily food budget at 10,000 won and built the platform to help others facing similar constraints.

July 20, 2026