Vítejte zpět u China Insights Weekly. Here are some of the highlights of this release:

  • FDA grants priority status to MicroPort stent graft, which will speed up the treatment of complicated aortic diseases
  • Chinese electric buses gaining ground in Europe underfoot thanks to price and battery technology
  • Financing in yuan reaches record, foreign loans and trade settlements continue to grow
  • Vertical pig farms are expanding rapidly, 26-storey buildings breed hundreds of thousands of

Main News

China is once again the world's billionaire hub as the Hurun Rich List grows thanks to rising stocks

China has regained its status as the world's billionaire hub, with 1,110 billionaires out of the world's 4,020, according to the latest rankings Hurun Global Rich List published on March 5th. China has added 287 billionaires since the previous release, accounting for half of the global net gain of 578 and more than offsetting the losses of the past three years. Artificial intelligence has created significant new wealth and produced two Chinese billionaires: Yan Junjie of MiniMax ($3.6 billion) and Liu Debing of Zhip ($3 billion). The country's rapid growth in wealth creation has been driven by industrial products (more than 80 new names), semiconductors (18 new billionaires, including Metax's Chen Weiliang with a fortune of US$4.7 billion and Moore Thread's Zhang Jianzhong with US$4.6 billion as Beijing pushes for chip self-sufficiency), healthcare (28 new names) and energy (19 new names from the electric vehicle battery ecosystem). In addition, 42 Chinese-born billionaires now live in Southeast Asia and the United States.

TikTok Shop rapidly closing the gap with Shopee in the Southeast Asian e-commerce market

TikTok Shop is quickly catching up with Shopee in the Southeast Asian e-commerce market, especially in Vietnam, where both platforms now dominate. According to Metric data, Vietnam's four largest e-commerce platforms will generate a gross merchandise value (GMV) of VND429.7 trillion (US$16.4 billion) in 2025. Shopee holds more than 56 % of the market and TikTok Shop has expanded to more than 41 %. Together, they control 97 % GMV of online platforms in the country. The entire sector has grown by almost 35 % year-on-year. Meanwhile, TikTok Shop's GMV in the US will reach US$15.1 billion in 2025, a year-on-year increase of 68 %, with 2,143 stores surpassing sales of US$1 million. Analysts report that Shopee's adjusted EBITDA to GMV margin is expected to grow to 0.9 % in fiscal 2026, despite increasing competitive pressure.

US FDA grants breakthrough device status to innovative MicroPort stent graft system

The US FDA has granted MicroPort's Hector Multi-Branch Thoracic Aortic Stent Graft System Breakthrough Device designation, allowing for priority review and accelerated approval. The device enables minimally invasive treatment of complex thoracic aortic lesions involving all three branches of the aortic arch, a condition with more than 80% rupture mortality with traditional surgery. The system has already received European certification for custom medical devices and has been clinically launched in Europe, while it is still in pre-approval clinical trials in China. MicroPort reported 12% year-on-year profit growth to CNY563 million (USD78.3 million) and 12% revenue growth to CNY1.4 billion (USD187.8 million), with overseas sales up by more than 55 % to CNY250 million.

EU cities buy Chinese BYD and Yutong buses due to lower prices and more advanced EV technology

Chinese electric bus makers BYD and Yutong are gaining significant market share in Europe, accounting for 21 % of the market in 2024, according to McKinsey. BYD's buses cost about €100,000 ($117,000) less than European competitors such as MAN and Daimler, whose prices are typically around €600,000 ($702,000). Belgian carrier De Lijn has contracted BYD for up to 500 units, and the company plans to triple production capacity to 1,250 vehicles a year at its new plant in Hungary. In Austria, carrier Albus chose Yutong for an order of 34 buses backed by a €10 million (US$11.7 million) subsidy. More recently, Deutsche Bahn ordered 200 BYD intercity buses, while cities are phasing out diesel buses by 2030.

BYD bus in Helsinki, Finland

Financing in yuan reaches record $200 billion as internationalization of China's currency accelerates

Financing in yuan rose to a record 218 billion yuan ($31.6 billion) in 2026, building on borrowing of $167 billion in 2025, tripling in the past five years. So-called dim sum bonds (foreign debt denominated in yuan) have reached 103 billion yuan since the start of the year, almost double the same period last year, while panda bonds (issuance by foreign entities in the Chinese market) have reached 51.4 billion yuan. Foreign loans in yuan quadrupled to 42.5 billion yuan in 2025. Indonesia's recent dual currency issuance priced the 10-year yuan tranche about 100 basis points lower than comparable euro-denominated debt. The yuan's share of China's cross-border trade settlement reached a record 34.5 % in 2024, up from 10 % in 2017. Yet the yuan accounts for only 8.5 % of global currency transactions and less than 2 % of international reserves, ranking it seventh in the world.

Tomáš Kučera & Yereth Jansen

China-insights.com/gnews.cz – GH