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 “reasonably adjusting excessive” income and encouraged high-earning groups and enterprises to give back to society.

In addition, we speak with Caixin Global company news reporter Kelsey Cheng about how a photo taken by a Caixin photographer launched a debate about non-fungible tokens (NFTs).

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