China Business Insider - News From Caixin Global

This week on the Caixin-Sinica Business Brief: Urban unemployment rates in China rise to 5.9% despite lower numbers of daily coronavirus cases in the country; TikTok’s fate in the U.S. hangs precariously in the wake of an announcement by U.S. Secretary of State Mike Pompeo; and the French government hedges its bets on the future of Huawei in its domestic telecommunications infrastructure.


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In today’s episode: the northern city of Bayan Nur issues a health warning after a plague infection is reported; transgender community celebrates court ruling on landmark employment discrimination case; and Sino CEO and controlling shareholder proposes taking the company private in a deal valuing the company at $2.7 billion.

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In today’s episode: While the domestic Covid-19 outbreak is largely under control, the pandemic’s knock-on effects on employment could linger much longer; mix-up costs Gree Electric a multimillion-dollar contract; netizens debate whether or not only children should be given paid leave to look after to their elderly parents.

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This long read special perfectly encapsulates the old adage “all that glitters isn’t gold.” The episode unveils how some of the 80 tons of gold put up by Nasdaq-listed Kingold Jewelry as loan collateral turned out to be gilded copper. The shocking revelation now leaves lenders holding the bag for the remaining 16 billion yuan of outstanding loans backed by the bogus bars. 

SPECIAL OFFER: Caixin Global is offering all our podcast listeners an exclusive 40% off discount for our Basic Yearly package! Just head over to caixinglobal.com and click on the blue "Subscribe" button on the top right. To access this special deal, just subscribe to the Basic Yearly package and enter this special promo code: cxgpodcast. This offer is only available for a limited time.


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Chinese students going abroad for university used to be a win-win. Graduating from a foreign university could help the student jump-start their careers back home, while educational institutions received a sizable portion of their income from international student fees. However, as this episode reveals, the plans of many Chinese people head overseas for their education have now been plunged in uncertainty due to the Covid-19 outbreak as well as worsening China-U.S. relations.

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In today’s episode: Chinese capital’s second Covid-19 wave pushes many small and midsize companies to the brink of bankruptcy; how Tunghsu’s $7 billion pile of cash seemingly vanished into thin air; and environment ministry announces end to solid waste imports from next year.

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In today’s episode: Disgraced coffee chain co-founder could be booted from his chairman position following an internal probe; fugitive accused of helping illegally raise of billions through a Ponzi-style scheme has been returned to China following his extradition from Greece; and advertising industry body gets tough on e-commerce livestreaming.

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In today’s episode: Indian government bars 59 Chinese apps on national security grounds; Beijing slashes handouts to solar projects by nearly 90%; and Hainan province's ambitions to transform the island into a duty-free shopping mecca.

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In today’s episode: Brussels contemplates easing travel restrictions on inbound Chinese travelers as long as Beijing is willing to return the favor; how British chipmaker Arm became locked in a bitter battle with its Chinese joint venture; and Chinese crypto mining player Ebang seeks to establish an offshore exchange for digital assets in 2020.

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This week on the Caixin-Sinica Business Brief: A Chinese jewelry company promises gold bars as collateral for loans — but something else is below the surface. Profits are up for industrial enterprises, but it’s still been a rough first half of 2020. Beijing changes the rules for Apple’s App Store for games that charge money. China’s regulators look like they’ll be allowing commercial banks to offer securities services to compete with foreign financial services companies as the sector opens up. And Didi Chuxing introduces driverless cabs in Shanghai.

In addition, we speak with Caixin Global Managing Editor Doug Young about a dustup between the CEO and the board of directors at chipmaker ARM’s Chinese joint venture company.

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