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 #
China Moves to Raise Retirement Age to Bolster Workforce, Ease Pension Pressure
Nation needs more workers to offset falling birthrates and ballooning retiree population
# Finance #
Tesla Renews Bid to Break Into Insurance Business in China
U.S. electric-vehicle giant registers brokerage firm in Beijing and names senior vice president as the unit’s chairman
Opening-Up Advocate Says Goodbye to China’s Top Securities Regulator
Fang Xinghai’s tenure coincided with a series of developments that gave foreign investors greater access to the country’s capital markets
Highlights of the past fortnight include: Shanghai Stock Exchange VP put under graft probe, CSRC deputy Fang Xinghai retires, HSBC China names global banking head
# Business #
In Depth: New Rules Set to Give State-Owned Carmakers an EV Boost
Some have fallen behind in EVs, but changes to encourage their development risk squeezing out private firms
Struggles in China Hurt Uniqlo’s Bottom Line
Japanese fast-fashion chain’s profit and revenue in Greater China both fell during the March-May period due to growing competition and thriftier consumers
In Depth: As Sales Surge, Electric Trucks Could Be Here for the Long Haul
Sales of the vehicles in China jumped 142% in the first five months of this year as pressure builds to clean up polluted regions
China Offers Up To $20,000 Subsidy to Businesses Replacing Old Diesel Trucks
Policy is aimed at getting old, polluting lorries off the road and at boosting consumption
# News Graphics #
China’s SAIC Motor Downplays EU Tariff Concerns
A diverse line-up of hybrid electric models, plug-in hybrids and conventional vehicles will help the state-owned automaker offset losses, new president says
# Tech #
China Adds Drone Components With Military Applications to Export Blacklist
Chinese drone-makers have faced sanctions and criticism for allegedly supplying Iran and Russia
# WSJ #
Unraveling Trades Fuel Global Market Rout
U.S. stock indexes trade sharply lower, tracing declines in international markets; Dow industrials fall more than 1,000 points
# Opinion #
Weak U.S. Economic Data Hits Market Ripe for Turmoil
Divergent central bank policies, geopolitical risks, global supply chain issues and fluctuating sentiment exacerbate the falls across major stock indexes
# China #
In Depth: How to Better Protect Procedural Justice for Criminal Suspects in China
Experts weigh in on how the country’s legislature should amend the 45-year-old criminal procedure law to better balance the powers of the judicial system with the legitimate rights of suspects and defendants
China’s New Digital ID System Trialed Across Over 80 Apps
Internet users can now apply for their national digital ID by logging onto a mobile app called National Web Identification Pilot Version, developed by China’s Ministry of Public Security
# World #
Physicist Tsung-Dao Lee, One of China’s First Nobel Laureates, Dies at 97
Lee shared the 1957 prize with his compatriot Chen Ning Yang, for work which led to discoveries regarding elementary particles
# Economy #
China Services Activity Growth Bounces Back From Eight-Month Low, Caixin PMI Shows
Index increased 0.9 points to 52.1 in July as the job market recovered
# Weekend Long Read #
Why Temporary Workers Are a Growing Presence in China’s Factories
Temporary workers can make up one-third to two-thirds of the manufacturing workforce in major industrial areas, depending on the time of year, field survey data show
# Gallery #
# Podcast #
Caixin Biz Roundup: China’s Smartphone-Makers Squeeze Apple
WeRide plans biggest U.S. IPO by Chinese firm since Didi, Beijing tweaks regulations to ease the way for foreign investors
