Yue Wang

Beijing

Senior Contributor at Forbes

Forbes Asia writer. Previously @ TIME @Medill School of Journalism

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Articles

Trump’s Tariff Pause May Help China’s Clothing, Electronics Billionaires

2 weeks ago | forbes.com | Yue Wang

Chinese stocks rose on Thursday, even though U.S. President Donald Trump hiked tariffs on the country to a towering 125%. Some investors found hope in Trump’s decision to “pause” big duties on other trading partners, because China may be able to make products in them to ultimately sell to America. The 90-day reprieve on higher levies on goods from other countries announced Thursday is good for clothing billionaire Ma Jianrong and electronics billionaire Pan "Benjamin" Zhengmin, analysts say.
Chinese Tycoons Lose Billions In Market Mayhem Caused By Trump Tariffs

2 weeks ago | flipboard.com | Yue Wang

Asian markets plunged on Monday following last week’s two-day meltdown on Wall Street, and President Donald Trump said he won’t back down on the sweeping new tariffs he announced on April 2 that have roiled global trade. Countries are scrambling to figure out how to respond to the tariffs, with …
Chinese Tycoons Lose Billions In Market Mayhem Caused By Trump Tariffs

2 weeks ago | forbes.com | Yue Wang

Chinese stocks plunged steeply on Monday as a tit-for-tat tariff war with the U.S. builds, and the country’s richest tycoons lost tens of billions of dollars in a day. After initially demonstrating resilience to the Trump administration’s tariff increases, the country’s stock markets fell off a cliff as investors returned from an extended holiday weekend.
China Stocks Pare Losses After Trump Tariffs, Hopes For Gov’t Stimulus

3 weeks ago | forbes.com | Yue Wang

Chinese stocks declined after the Trump administration hiked tariffs on the country to well over 50% on Wednesday, but a glimmer of optimism was visible.
The 10 Richest Chinese Billionaires 2025

3 weeks ago | forbes.com | Yue Wang

Chinese billionaires are making a comeback amid the country’s AI advancement and the government’s friendlier stance toward the private sector. Despite escalating trade tensions with the U.S., China’s stock markets still soared since last year’s list of the World’s Billionaires. The Hang Seng Index rallied almost 20% as officials promised greater economic support, while DeepSeek’s January release of a highly affordable AI model reignited investor interest in the country’s technology sector.
Tencent Plans More AI Products To Spur Growth, Outperform Competition

1 month ago | forbes.com | Yue Wang

Chinese web giant Tencent plans to introduce more AI-related functions and products to boost growth as the company reported a strong set of results for the final quarter of 2024. There is a chance it might turn its WeChat messaging service into an AI-powered super app with a slew of new functions, analysts say.
Former Government Clerk Amasses $9 Billion As His Gold Jewelry Brand Soars

1 month ago | forbes.com | Yue Wang

Xu Gaoming, an ex-fisheries clerk in China who started jewelry brand Laopu Gold in 2016, has amassed a $9 billion fortune after company shares soared almost 1,500% following an initial public offering less than a year ago. But analysts caution that the stock might have hit unsustainably high levels. Xu, 60, is chairman of the Hong Kong-listed firm and derives his net worth from a company stake, according to Forbes estimates.
AI Mania Makes ByteDance Cofounder Zhang Yiming China’s Richest Person

1 month ago | forbes.com | Yue Wang

ByteDance cofounder Zhang Yiming has become China’s richest man as investors bet on companies with AI potential. Zhang’s fortune has grown to $65.5 billion, ahead of beverage giant Nongfu Spring founder Zhong Shanshan’s $56.5 billion, according to Forbes estimates. Zhang, 41, derives his net worth from a 21% stake in the privately held tech behemoth, although he stepped down as chairman in 2021 after resigning as chief executive earlier that year.
China Sets 2025 GDP Growth Target At ‘Around 5%’ Amid Major Challenges

1 month ago | forbes.com | Yue Wang

China set its economic growth target at “around 5%” for 2025, the same as last year and in line with market expectations. But reaching it may be difficult amid an escalating trade war with the U.S. and anemic consumption at home. Chinese Premier Li Qiang announced the gross domestic product (GDP) growth target on Wednesday in the Great Hall of the People in Beijing.
Chinese EV Maker BYD To Raise $5.6 Billion To Fund Global Expansion

1 month ago | forbes.com | Yue Wang

BYD, the Chinese electric vehicle juggernaut headed by billionaire Wang Chuanfu, intends to raise HK$43.5 billion ($5.6 billion) in a share placement to deal with fierce competition at home and to expand abroad. Shares in the dual-listed firm plunged 7.6% in Hong Kong and 4.4% in Shanghai as of 10:30 a.m. Tuesday after BYD announced plans to issue 129.8 million new shares at HK$335.2 apiece to undisclosed investors, according to a filing with the Hong Kong Stock Exchange the same day.