This week on the Caixin-Sinica Business Brief: China will create a vast new financial regulator, TikTok unveils a new data security program in Europe, BYD enters the U.K. passenger car market, and Chinese local governments offer sweeteners to potential buyers to boost car sales.

In addition, Kelsey Cheng joins to talk about ByteDance's Douyin — TikTok's Chinese cousin — and its aggressive moves into e-commerce and food delivery, areas dominated by giants Alibaba and Meituan.