China Business Insider - News From Caixin Global

Crypto mining Inner Mongolia announces new measures to crack down on the industry; more young Chinese people are opting out of the rat race; and Tencent gets orders to set up a financial holding company

Graft busters reveal mind-blowing corruption at the collapsed lender; the future of Peking University's tech conglomerate is hanging by a thread; and the organizer of the deadly Gansu ultramarathon won the job of organizing the race in a noncompetitive procurement process.

Tech giant says it has no ambitions to hold shares in car companies; Gansu ultramarathon organizer put a team of temps in charge of the disastrous event; and British variant of the coronavirus has been detected in Shenzhen

Plus, 21 marathon runners die in a storm in northwestern China; ByteDance co-founder announces that he will step down as CEO ; and the 'father of hybrid rice' passes away.

Twenty-one people were killed after a race was struck by extreme weather; China mourns the death of the ‘Father of Hybrid Rice'; and more on Shenzhen's swaying skyscraper

Co-founder Zhang Yiming plans to leave the top position to focus on ‘longer-term initiatives’; China reports an over 50% drop in divorces after introducing ‘cooling-off’ policy; and U.S. President Joe Biden says his country won’t pump its breaks when it comes to overtaking the global electric vehicle market.

Prices of Bitcoin and Ethereum tumble after the world’s second-largest economy toughens restrictions on such digital assets;  the U.S. postpones an investment ban on blacklisted Chinese companies and thousands are evacuated after a Shenzhen skyscraper wobbles

By tapping into cloud and 'digital power', the Chinese telecommunication titan could return to growth; Hong Kong Disneyland suffers rollercoaster ride in 2020 as theme park reports loss; and China’s biggest shipbuilding companies get the green light for merger deal.

 
Nearly 14 million people in the country receive Covid-19 jabs in a single day; overseas residents are shunning the big cities of Beijing and Shanghai for southern provinces;  and the WEF cancels its plans to host annual summit in Singapore due uncertainty posed by pandemic

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President Xi Jinping leads crackdown on tutoring industry where worried parents are fueling a boom, but experts cite inequality in access to educational resources

Read the article by Ding Jie, Huang Huizhao and Denise Jia: https://www.caixinglobal.com/2021-03-29/cover-story-wheres-the-pressure-on-schoolkids-coming-from-101681656.html

Narrated by Sarah Kutulakos.