eNews
Tax evasion investigations drag Chinese entertainment shares down
HANGZHOU, CHINA: The television industry in China – which is regulated by the State Administration of Radio Film & Television (Sarft) – is going through its own turmoil, regulatory restrictions aside.
Monday saw stock of many media companies involved in production drop between six and 10 per cent. Huayi Brothers Media, Zheijan g Talent Television & Film Co, Spearhead Integrated Marketing Communication, Huawei Culture Co, Ciwen Media Co – all saw market capitalizations vanish even as the media index fell 1.3 per cent. This is a near four year low.
The reason: the Chinese tax authorities are investigating whether the country’s media and entertainment firms are finding innovative ways to evade taxes, especially as far as payment to top talent is concerned (sounds familiar to us Indians right?)
It all started last week when a former TV host Cui YongYuan posted screenshots of several employment contracts (with names blacked out) on networking site Sino Weibo. He accused actors of signing dual or ying yang contracts with production studios. Cui attacked Chinese star Fan Bingbing claiming she was given 10 million yuan (US$1.5 million) according to the contract which was shown to the tax authorities while she had signed another personal agreement wherein she was paid 50 million yuan for the same work. Fan is based in Wuxi, Jiangsu province province of China and with the social media abuzz, the local tax authorities swing into action, pronouncing that they would investigate the tax evasion charge thoroughly.
Local activists and researchers lauded the move as China has tried to regulate the alleged tax evasion abuse by top actors and talent in the past but has failed. The China Alliance for Radio, Film & Television had issued a circular in 2017 ordering producers to limit actors’ remuneration to no more than 40 per cent of the production costs, and that leading actors compensation should not exceed 70 per cent of total actors’ payments.
The hue and cry around Cui and Fan, lead to a broader call for the Chinese tax authorities to investigate all media and entertainment firms. Hence, the slump in share prices.
Observers see good in the tax evasion investigation. “Chinese media shares will be negatively influenced in the short term, but it’s a piece of good news in the medium to long term that film and TV stars will be more compliant about paying taxes and good film and TV producers will stand out,” said a representative of one the Chinese investment banking analysts to China Daily.
eNews
Swiggy sees record orders during India vs New Zealand T20 final
Chicken biryani tops match-day menu as fans order 7,500 times per minute at peak.
MUMBAI: India’s T20 final didn’t just break stumps, it broke Swiggy’s delivery records, proving cricket fans celebrate victories with plates, not just flags. Swiggy, India’s leading on-demand convenience platform, reported a sharp spike in food orders during the ICC Men’s T20 World Cup final between India and New Zealand. On 8 March 2026, overall orders rose 23.2 per cent year-on-year compared with the same date in 2025, driven by fans turning living rooms into mini stadiums complete with match-day feasts.
Key highlights from the evening:
- Orders during peak match hours (7–10 pm) were 2.1 times higher than pre-match levels.
- The highest order rate hit 7,500 orders per minute at 19:45.
- Chicken biryani reigned supreme as the most-ordered dish, followed by masala dosa, chicken fried rice, garlic breadsticks and paneer butter masala.
While metros such as Bengaluru, Mumbai and Hyderabad led volumes, the cricketing fever spread nationwide. Among emerging cities, Thiruvananthapuram, Surat and Rajkot recorded the strongest order growth. Smaller markets including Shillong, Agartala and Port Blair also showed significant appetite, underlining the expanding footprint of quick-commerce food delivery across India.
The surge reflects a growing trend of pairing major sporting events with doorstep delivery, turning big matches into shared, convenient celebrations. In a night where every boundary mattered, Swiggy proved the real MVP might just be the delivery partner who kept the snacks and the vibes flowing without missing a single wicket.
