Here is another installment of our ongoing series of Chinese news story round-ups. You can read a summary of each top news story in English first, then test your Chinese by reading the story in Chinese. You can check to see how much you understood by reading the story in English afterwards.
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China’s News Round-up #5
1. “I used my primordial powers!” – An exuberant Chinese swimmer became a star at Rio
The Chinese backstroke swimmer Fu Yuanhui has become an unexpected star of the Rio Games. After the semifinals for the 100-meter backstroke, where her third-place finish qualified her for the finals, she gushed to a reporter, “I used my primordial powers!” The image of her standing poolside with mouth agape has been ubiquitous on the Chinese internet. Asked if she had any expectations for the final, she said she was already satisfied. She later won a bronze medal in the 100-meter backstroke final.
Although this has fallen short of the gold standard that has long dominated China’s Olympic quest, her unbridled happiness at achieving a personal best has resonated widely. Online, pictures of her expressions have been juxtaposed against other Chinese athletes whose grim faces betray the intense pressure of Olympic expectations. Instead of performance, it is her exuberance out of the water that has endeared her to fans.
Some commenters in China remark that the popularity of Yuanhui reveals that people nowadays think exceeding one’s self and demonstrating the Olympic spirit is even better than winning a gold medal.
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2. Alibaba records its biggest gain despite fears of China’s economic slowdown
Alibaba Group Holding Ltd. said it would continue to step up its investments after reporting a better-than-expected 59% surge in fiscal first-quarter revenue, its biggest gain since its $25 billion initial public offering two years ago. Revenue from its China retail marketplaces including Taobao and TMall has risen 49% from a year earlier. Despite fears of an economic slowdown in China, the Chinese e-commerce giant has seen an increase in sales and number of users, as well as rapid growth in its cloud-computing business. The revenue from cloud-computing increased 156% year over year to $187 million, bringing its total of paying customers strong growth driver for Alibaba. AliCloud is competing in an arena currently dominated by U.S. brands including Amazon Web Services and Microsoft Azure.
Alibaba’s strong results came as it still faces challenges. The company’s quarterly results also highlighted losses among some newer investments, such as its food-delivery service and logistics affiliate. Alibaba faces intensifying competition from smaller but more rapidly growing e-commerce companies, in particular JD.com Inc. Alibaba also continues to work on fighting counterfeits and monitoring fraudulent transactions on its online platforms.
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3. China’s cinema boom loses its luster as sales slump
Some of the shine has come off the silver screen in China as a 15% fall in cinema attendance in July added to an ongoing box office downturn. The slowdown comes in the wake of more than 50% growth last year. Ticket sales in the three months to June fell by 10%, marking the first drop in as many as five years, box office tracker EntGroup said. Average ticket prices have also fallen to the lowest level in more than five years.
Box office numbers are regarded as an alternative indicator of consumer mood and economic growth in China. The downturn suggested that Chinese consumers may be feeling the pinch and thus cutting back on discretionary spending. The box office slowdown this year could also delay the time of China taking over the US as the world’s biggest movie market in 2017.
Chinese investors have been on a buying spree over the past years, taking stakes in a number of western cinema operators and movie companies. China’s Dalian Wanda has taken over AMC Entertainment and the Carmike cinema chains. Earlier this year, it also took over Legendary Entertainment, the US maker of blockbuster hits such as Jurassic World, the Dark Knight Batman trilogy and Godzilla.
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