The Caixin-Sinica Business Brief

This week on the Caixin-Sinica Business Brief:  A Boeing 737 flying from Kunming to Guangzhou plummeted suddenly in mountainous Guangxi with 132 aboard; Biden and Xi speak by video conference about Ukraine; Chinese ambassador to the U.S. Qin Gang denies that China had any foreknowledge of the Russian invasion and calls claim that Russia asked for military assistance “disinformation;” China’s...

Chinese ADRs tumble on American bourses after the SEC announces possible delistings targets over accounting kerfuffle; nickel prices soar after China’s Tsingshan makes a bad bet on the metal’s futures; disgraced Luckin Coffee survives a bid to pull the plug and liquidate assets; as the Two Meetings comes to an end, Premier Li Keqiang announces that he will step down after finishing his second term...

This week on the Caixin-Sinica Business Brief:  China sets its lowest GDP growth target yet, at around 5.5%; the renminbi surges against the ruble as sanctions bite against Russia; an AmCham survey finds fewer U.S. firms in China making a profit; Huawei’s tax troubles in India deepen; a new American ambassador takes up his post in Beijing; Hong Kong continues to battle an Omicron wave; and Ch...

This week on the Caixin-Sinica Business Brief: A private lender could lose 10 million yuan in Ethereum following a court ruling on crypto loans; Huawei encounters difficulties in India; China cracks down on counterfeit Olympic mascots after “Bing Dwen Dwen” surges in popularity; Hong Kong battles an Omicron wave; and China’s oil imports decline for the first time in two decades. In addition, we sp...

This week on the Caixin-Sinica Business Brief: Beijing plans to announce sweeping standards on fintech and the digital yuan; Hong Kong steps up the fight against COVID-19; Beijing pushes back its target for peaking steel industry carbon emissions by five years; and three people are suspected of human trafficking after a disturbing video of a woman in shackles goes viral. In addition, we speak with...

This week on the Caixin-Sinica Business Brief: Over 300 positive cases so far within the Olympic closed-loop; the Winter Games fuel a rise in interest in winter sports in China, with travel and spending on the rise; NASDAQ-listed electric vehicle maker Faraday Future is in trouble over misleading vehicle pre-sales figures; the IMF pushes Beijing to address slowing growth with more aggressive fisca...

This week on the Caixin-Sinica Business Brief: The hardships faced by a migrant worker who tested positive for the Delta variant have sparked widespread sympathy after his movements, and his backstory, were published online; Huawei’s venture capital investment arm, Hubble, looks to bolster Huawei’s chipmaking capabilities; and China’s real estate developers face continuing problems as bills come d...

This week on the Caixin-Sinica Business Brief: China’s GDP grew 8.1% in 2021 on low comparisons; flight cancellations continue as several Chinese cities experience Omicron variant cases; Beijing further tightens rules on after-school tutoring companies; China’s big mobile payment providers come one step closer to enforced interoperability; and embattled developer Evergrande’s automotive unit produ...

This week on the Caixin-Sinica Business Brief: Major layoffs at short video company Kuaishou; India orders Chinese mobile phone giant Xiaomi to pay $90 million in import taxes; China overtakes Japan to become the world’s largest importer of LNG, or Liquified Natural Gas; and China Mobile makes its debut in a “homecoming listing” on the Shanghai Stock Exchange after being kicked off an American bou...

This week on the Caixin-Sinica Business Brief: electric vehicle startup Xpeng gets in trouble for abusing facial recognition tech in its showrooms; the stridently nationalistic editor-in-chief of the Global Times steps down; the U.S. Treasury Department expands its list of Chinese companies on its blacklist to include drone maker DJI and dozens of other companies over Xinjiang surveillance and all...

This week on the Caixin-Sinica Business Brief: A possible end to the chip shortage that has crippled auto manufacturing in China; downgrades of a dozen Chinese real estate developers from the three major credit rating agencies; Beijing launches a new free online tutoring platform in the wake of its crackdown on cram schools; British businesses in China report difficulty in attracting and retaining...

This week on the Caixin-Sinica Business Brief: Investors get the jitters over the Omicron variant, rattling aviation stocks; Chinese ride-hailing giant Didi announces its impending delisting from the NYSE; China’s Vice Premier Liú Hè 刘鹤 says China is on target to hit its 6% GDP growth target for 2021; Evergrande looks increasingly dire and desperate; and the possible on-screen poisoning of a cat...

This week on the Caixin-Sinica Business Brief: Two Chinese nationals have been killed, with 10 held for ransom and two still missing, after an attack in the Democratic Republic of the Congo just a few days after the kidnapping of five in a separate incident also in the DRC; Chinese ties with Lithuania near the breaking point over Taiwan; the U.S. Commerce Department adds more Chinese companies to...

This week on the Caixin-Sinica Business Brief: Henry Kissinger weighs in on the Xi-Biden virtual summit; China and the U.S. will ease visa restrictions on each others’ journalists; Beijing is set to go after carbon-intensive industrial crypto mining operations; China pledges $30 billion toward reducing carbon emissions from burning coal; Alibaba shares fall 11% as the e-commerce giant lowers its f...

This week on the Caixin-Sinica Business Brief: China’s Ministry of Commerce assures people that its suggestion that people stock up on staples for the winter was just a routine seasonal reminder; China’s exports climb year-over-year for the 13th straight month; Beijing prepares to introduce punitive measures aimed at “separatists” calling for Taiwan independence; quarantine requirements may soon b...

This week on the Caixin-Sinica Business Brief: Boeing’s 737 Max planes look likely to be cleared for landing again in the lucrative China market; China’s Foreign Ministry tells U.S. Secretary of State Antony Blinken to stop playing the “Taiwan Card;” Beijing reminds its government agencies not to discriminate against foreign-invested enterprises in procurement; steel output shrinks again in keepin...

This week on the Caixin-Sinica Business Brief: Beijing moves to stabilize coal prices in hopes of addressing shortages that have resulted in power outages and rationing; a Hong Kong real estate billionaire takes a $13 million loss in sell-off of bonds from embattled developer Kaisa; under pressure from regulators, Tencent and Alibaba begin tearing down some of the walls in their respective walled...

This week on the Caixin-Sinica Business Brief: China’s central bank rebukes Evergrande but tries concerns over contagion from its massive debt crisis; prices soar in China for lithium, a key component of batteries for electric vehicles; European businesses ask for clarity in power policy amid shortfalls and rationing; the U.N. Biodiversity Conference wraps up in Kunming, Yunnan, with a pledge by o...

This week on the Caixin-Sinica Business Brief: Food delivery giant Meituan has been fined over half a billion dollars by China’s antitrust regulator; Beijing dangles unprecedented access to its enormous domestic market if it’s allowed to join the CPTPP; concerns over contagion from the Evergrande crisis loom; box office rebounds dramatically over Golden Week with the release of a big-budget war ep...

This week on the Caixin-Sinica Business Brief: Huawei CFO Meng Wanzhou returns to China; Huawei budget smartphone brand Honor recovers market share; Beijing cracks down hard on cryptocurrencies, effectively banning all crypto activity; embattled conglomerate HNA’s chairman and CEO both detained in China; questions emerge over banks with exposure to Evergrande; and multiple Chinese provinces suffer...

This week on the Caixin-Sinica Business Brief: U.S.-China tensions rise over Taipei’s move to change the name of its representative office in the U.S.; Apple offers its latest smartphone at a price it hopes will grow its share in China; Stanford faculty call for an end to the U.S. Department of Justice’s controversial “China Initiative” over ethnic and racial profiling; the chairman of embattled E...

This week on the Caixin-Sinica Business Brief: Major Chinese tech companies are ordered to do more to protect gig workers; Xi Jinping and Joe Biden speak by phone for the second time since Biden’s inauguration; Germany’s ambassador to China, Jan Hecker, dies tragically after just two weeks on the job; Fujian health authorities mobilize after new COVID-19 cases emerge in the South China province; a...

This week on the Caixin-Sinica Business Brief: Chinese online game companies wonder whether new rules may mean it’s game over soon; the entertainment sector is ordered to rid itself of unethical or unpatriotic celebs, and take “sissy men” off the air; ride-hailing companies are ordered to clean up their act; global warming pow-wow between John Kerry and Xie Zhenhua in Tianjin; and President Xi Jin...

This week on the Caixin-Sinica Business Brief: China’s UN ambassador calls on the WHO to investigate Fort Detrick and the University of North Carolina for alleged “lab leaks,” apparently in reaction to U.S. allegations of a leak at the Wuhan Institute of Virology; the epidemiologist known as “China’s Dr. Fauci” has been cleared of academic fraud allegations; China’s infamous “996” work hours are d...

This week on the Caixin-Sinica Business Brief: The White House announced retired career diplomat Nicholas Burns as President Biden’s latest nomination for U.S. ambassador to China; China’s top transport authority called on ride-hailing firms to cap the commissions they take from drivers and disclose them publicly; and according to Xinhua, China’s top leaders have pledged to better control “re...