The central government appears to be determined to reconfigure the economy by forcing businesses in industries with extreme overcapacity to shut down or merge.
The International AntiCounterfeiting Coalition recently suspended Alibaba’s membership, once again throwing the Chinese ecommerce giant’s business practices into the global spotlight.
Every cow that produces six tons of milk a year only brings in 240 yuan (US$36) annually for its owner, according to May 2015 statistics from China’s Ministry of Agriculture.
The number of cancer patients in China rose to about 4.3 million in 2015, up from 3.4 million in 2011, according to the Chinese Cancer Registry Annual Report.
An estimate from private consulting firm iResearch places the 2017 value of China’s app-based healthcare service market at 12 billion yuan (US$1.8bn), three times higher than the 2015 figure.
By the end of April, the number of commercial banks in rural areas across the country had surpassed 1,000, according to the China Banking Regulatory Commission.