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China’s economy expanded more rapidly than analysts had predicted in the first quarter of the year, even as the global economy grappled with the fallout from the ongoing US-Israel war with Iran.   Official figures show that gross domestic product (GDP) increased by 5% compared to the same period last year, exceeding economists’ expectations of around 4.8%.   The stronger-than-anticipated performance comes despite significant disruption caused by the Middle East conflict, whic

Police in eastern China’s Zhejiang province have taken Yu Faxiang, the chairman of Hong Kong-listed Haichang Ocean Park, into custody as authorities investigate alleged mismanagement following defaults on multibillion-yuan wealth management products issued by a firm under his control. The move represents the latest crackdown on mainland China’s shadow banking sector, continuing years of government efforts to regulate and clean up the industry. Haichang, mainland China’s large