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Caixin Global
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Weekly Must-Read: China IPO Slowdown Pits Startups Against Investors

The Caixin Must-Read newsletter brings you the best of our coverage over the past week, handpicked by our editors. Enjoy!

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# Cover Story #

The Countdown Begins: TikTok Navigates Uncertain Future Amid U.S. Ban Bill

ByteDance maintains it won’t be pressured to sell platform used by 170 million Americans

# Business #

TikTok’s High Stakes Battle Against U.S. Ban Threatens Worldwide Expansion

TikTok fears exclusion from Canada and U.K. markets if U.S. ban proceeds

Rivals Vie to Fill Market Void as U.S. Business Ban Looms Over TikTok

Many TikTok users and advertisers are already shifting attention to YouTube, Instagram, and other rivals

TikTok’s Fate Hangs in the Political Balance Ahead of U.S. Presidential Election

Uncertainty about the timing of Senate action on a bill that would ban TikTok in the U.S. adds to lack of visibility on the Chinese firm’s fate

# Finance #

In Depth: China IPO Slowdown Pits Startups Against Investors

As companies miss listing deadlines, they are increasingly becoming mired in disputes with their early-stage investors who want their money back

Exclusive: Citic Group’s Personnel Shuffle Extends to Venture With Prudential

Chang Ge, head of wealth management at Citic Financial, is set to become general manager of Citic-Prudential Life Insurance

Exclusive: China Merchants Bank Punishes Two Private Banking Executives, Sources Say

Wang Nan was expelled from the Communist Party and dismissed from his position while Wang Yanrong was moved to a backwater department

# News Graphics #

China Carbon Watch: Trading Plummets as Compliance Deadline Passes

A total of 5.4 million tons in allowances changed hands in the national carbon market in the January-February period, falling off after the second compliance cycle ended in December

# Opinion #

To Fix Overcapacity, Let the Market Do Its Work

Upholding the market’s decisive role in resource allocation and enhancing government effectiveness hold promise for resolving the issue

China Needs to Implement Initiatives to Boost the Confidence of Foreign Investors

A level-playing field, easier access and greater openness will draw foreign investors and businesses back to China despite global uncertainties

# Economy #

Saudi Aramco Eyes Cooperation With China Beyond Just Oil

Chemicals, green materials, energy transition, and digital innovation are potential areas for future investment, said Amin Nasser, president and CEO of the Saudi oil giant

Foreign Firms Call for China to Implement New Plan to Boost FDI

The initiative addresses concerns such as cross-border data transfer, but the “true test lies in how and when” it is acted on, says an official at the German Chamber of Commerce in Shanghai

# Tech #

Micron Reaffirms China Expansion Plan as Government Welcomes Foreign Businesses

The U.S. chipmaker cannot grow its business in the country without local support, CEO Sanjay Mehrotra says

# China #

Premier Reiterates Commitment to Making China a Better Place to Do Business

Li Qiang says country has the will to foster a market-oriented, law-based and internationalized environment for companies

In Depth: How a Greying China Is Challenging the Health Care System

The country is racing to expand geriatrics care, but can’t keep up with a surging elderly population that would be the world’s fourth-largest nation

Former Deputy Chief of China Tobacco Regulator Pleads Guilty to Accepting Record in Bribes

He Zehua was accused of accepting more than $130 million in bribes while at the State Tobacco Monopoly Administration and its branches in Jiangsu and Anhui provinces

# World #

Beijing Pushes Pakistan to Hunt Down ‘Terrorists’ After Bombing Kills Five Chinese

Foreign ministry urges South Asian nation to thoroughly investigate the attack, which struck a bus carrying Chinese workers

# The Wall Street Journal #

Biden Opposition to Takeover of U.S. Steel Comes After Months of Lobbying

Cleveland-Cliffs and union campaigned against Nippon Steel’s bid, despite its benefits to Japan-U.S. alliance

# Weekend Long Read #

How Putin Transformed Russia and the World

The Russian president’s ascent had raised hopes of reform, but under his decades-long rule, market competition has eroded and social spending has dwindled

# Gallery #

Spicy Hotpot Fires Up the Crowds

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