The scale of China's night economy is expected to reach 30 trillion yuan ($4.28 trillion) this year, People's Daily reported on Wednesday.Market consultancy iiMedia Research made the projection as the country's night consumption has accelerated and urban vitality has further exploded since the beginning of summer.

The wholesale prices of China's agricultural products edged down Wednesday, according to the Ministry of Agriculture and Rural Affairs.The latest China agricultural product wholesale price index came in at 116.08, down 0.21 points from Tuesday.

Shenzhen released a notice on Wednesday, aiming to strengthen control on the property market so as to lead development in a rational way.

China reported a stable trend in intellectual property development in the first half of this year. More than 683,000 invention patent applications were filed in China in H1, and a total of 217,000 invention patents were authorized, the National Intellectual Property Administration revealed at an online press conference.

The new infrastructure initiative is expected to become a crucial engine of economic development and job creation for China to stave off COVID-19's impact on the economy, a recent report by Cushman & Wakefield said.

Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8 percent from 6.4 percent, cashing out around $9.6 billion at its current share price, the firm's annual filing released on Friday showed, according to Reuters, CGTN reported. 

China's entertainment giants are turning their focus to Southeast Asia amid intense competition, according to a Tuesday report from media platform The Drum.

China's aviation regulator said on Tuesday that it would allow China Eastern Airlines to increase flights on its Kunming-Vientiane route and Shanghai-Tokyo route due to its effective epidemic control measures.

Source：Globaltimes, Xinhuanet, Chinadaily, Shine, Gdtoday，China Plus News

Author: Producer Emilio Mendez

Speaker: Caroline Parraguez

Edition: EAcham