This week on the Caixin-Sinica Business Brief:

China’s central bank lowers two key interest rates by 10 basis points; China’s Foreign Ministry releases a white paper on Taiwan; Beijing defends its controversial decision to suspend climate cooperation with the U.S.; Hainan continues to wrestle with a COVID outbreak; fast-fashion giant Shein overtakes Amazon in app downloads; and ByteDance shells out $1.5 billion to acquire a private hospital through subsidiaries.

In addition, we speak with Caixin Global’s Nandini Venkata about the new virus that’s been discovered in China.