Welcome to the 53rd installment of the Caixin-Sinica Business Brief, a weekly podcast that brings you the most important business stories of the week from Chinaโs top source for business and financial news. Produced by Kaiser Kuo of our Sinica Podcast, it features a business news roundup, plus conversations with Caixin reporters and editors.
This week:
- We find out how, in a surprising reversal, smartphone maker Xiaomi said over the weekend there is no timetable for its mainland share offering, and that it will first complete its listing in Hong Kong.
- We learn that Chinaโs big three national wireless carriers are scrapping domestic data-roaming fees.
- We note that Chinaโs bike-sharing market is expected to shift into a slower lane this year.
- We explore JD.comโs deal with Google under which the U.S. search giant will invest $550 million in Chinaโs second-largest ecommerce company, furthering both firmsโ international expansion ambitions.
- We discuss the debt-ridden Chinese financial conglomerate Anbang Insurance Group, previously controlled by once high-flying tycoon Wu Xiaohui ๅดๅฐๆ, which is now nearly entirely owned by a state-run insurance bailout fund that injected almost $10 billion into the company earlier this year.
- We discover that China and Nepal have signed an agreement to develop a cross-border railway and the improvement of road links between the two countries.
- We hear that China has paid its final $580 million tranche to Sri Lanka as part of a deal that gives Beijing control over the strategic Hambantota deepwater port.
- We analyze how at least 25 senior officials overseeing Chinaโs prison system have fallen from grace over abuse of power linked to commutations.
In addition, we talk with Jason Tan, a business reporter at Caixin Global, about the many recent developments with Chinese telecom giant Huawei. We also chat with Coco Feng, also a business reporter at Caixin Global, about sports lotteries in China.
Weโd love to hear your feedback on this product. Please send any comments and suggestions to sinica@thechinaproject.com.
