Working for the government pays better

Working for the government pays better: According to the National Bureau of Statistics, in 2021, the average annual salary of urban workers at state-owned companies for the first time exceeded 100,000 yuan ($14,043), an increase of 9.7% from 2020. A total of ten provinces, including Beijing, Shanghai, and Tibet, exceeded the 100,000 yuan mark. The average salary paid by private companies was 62,884 yuan ($8,830), an increase of 8.9%.

Founder of high-end dentist chain under investigation: On Friday, the the China Securities Regulatory Commission announced an investigation into Lǔ Jiànmíng 吕建明, the founder of TC Medical 通策医疗, for information disclosure violations. TC Medical is one of China’s largest dental health services companies, and claims to have 30 dedicated dental hospitals.

Construction starts on largest underground iron ore mine: Last week, Ansteel Group 鞍山钢铁集团 started construction of China’s largest ever underground iron ore mine in Anshan, Liaoning Province. With a total investment of 22.9 billion yuan ($3.21 billion), the mine is projected to produce 30 million tons of iron ore and 10 million tons of iron ore concentrate annually, and is scheduled to enter production in 2027.

JD Health soars: Earlier today, JD Health 京东健康 announced revenue for the third quarter of 10.52 billion yuan ($1.47 billion), a year-on-year increase of 42.1%, and adjusted net profit of 655 million yuan ($91.98 million), an increase of 86.6%.