This week on the Caixin-Sinica Business Brief:

Beijing backs down over the use of "quarantine bracelets" after online backlash; Didi served with large fines for violations of data and personal security laws; Hong Kong cops bust a fake marriage ring, arresting over 100 individuals; and U.S.-China tensions flare over Nancy Pelosi's plans to visit Taiwan next month.

In addition, we speak with Caixin Global financial news reporter Yukun Zhang about the scandal involving village banks in Henan province.