Lucas Niewenhuis is the Newsletter Editor at The China Project. Previously, he has researched China-Africa relations at the Social Science Research Council, interned at the Council on Foreign Relations, and studied Chinese language and culture in Shanghai and Beijing.
Sichuan Province and Chongqing issued their highest levels of flood warning, as a historic deluge continued across much of central and southwestern China. The Three Gorges Dam is expected to hit a record water level this Saturday.
Four vaccines developed by Chinese companies have moved on to Phase 3 trials, accounting for half of the global candidates at that final stage of human testing before approval.
The Chinese economy, or at least the part of it that depends on rail transport and the export of manufactured goods, appears to be rebounding fast. The China State Railway Group reported record numbers for shipments of goods in July, and also set lofty goals for rail track development in China.
China is on track to become the first country to launch a state-backed digital currency. Pilot testing is now being expanded beyond the four initial cities, and the Commerce Ministry wants to be ready for launch by the end of 2020.
Chinese state media are urging people to reject food waste, and singling out a binge-eating internet phenomenon, known internationally as mukbang, for criticism. The campaign comes after food prices in China rose 13.2% year-on-year in July.
A New York Times investigation into the Hong Kong real estate investments and business connections of Communist Party elite found that Li Qianxin, the daughter of Li Zhanshu, the third-most-senior official in China, is quite prodigious.
China is the new center of giant for-profit enterprises, according to the new Fortune Global 500 ranking published by the eponymous magazine. For the first time since the annual ranking began in 1990, more revenue-leading companies hail from China and Hong Kong than from the U.S.
Hong Kongโs most outspoken pro-democracy tycoon, Jimmy Lai, was arrested on charges related to the cityโs new national security law imposed by Beijing. About 200 police officers also conducted an unprecedented raid of Laiโs news outlet, Apple Daily.
President Trump signed two executive orders, one reiterating that he wants TikTok banned (unless Microsoft buys it), and another launching a new attack against WeChat. Depending on how the WeChat order is implemented, it could have massive implications for the parent company, Tencent, and the future of the internet.