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Caixin Global
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Weekly Must-Read: China’s Challenge to Fill the Multibillion-Dollar Insurance Blackhole

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’s Challenge to Fill the Multibillion-Dollar Insurance Blackhole

The insurance industry is sliding deeper into trouble, with slow sales, weak investment returns and low interest rates weighing on profits, fueling concerns that some may not be able to pay out maturing policies

# Finance #

Hong Kong’s Strategic Enterprise Attraction Plan Secures 19 Additional High-Tech Companies

Some 49 technology sector companies are opening offices in Hong Kong bringing an expected $5 billion in investment and 13,000 jobs, Chief Executive says

Ant Makes International Business Independent in Major Revamp

Chairman says reshuffle aims to promote Ant’s major strategies to advance in artificial intelligence, payment business and international expansion

China’s New Loans to Nonbanking Institutions Hit Nine-Year High

Credit jumped by more than 23 times year-on-year in February, with analysts speculating the money could have been used by state-backed investors to prop up the stock market

# Business #

Exclusive: ByteDance Revives Gaming Ambitions Amid Fears of U.S. TikTok Ban

Personnel shake up at Nuverse as ByteDance decides to re-enter video gaming business

Tesla Increases Price of Model Y in China in Sign That Price War Is Easing

Tesla is raising the price of its Model Y is China by nearly $700 while cutting back on extras offered to Chinese customers

Xiaomi Builds In-House Sales Network for First Electric Car

In addition to dealerships, the SU7 will be sold in company-run delivery centers incorporating showrooms and retail stores repurposed to display the cars alongside other products

# News Graphics #

In Depth: China Targets Payments Problem to Win Over Foreigners

Beijing has also added over a dozen more countries to its visa-free list recently, as it tries to clear the hurdles preventing a revival of inbound tourism

# Opinion #

Curbing Cyber Violence: Enhancing the Online Business Environment

Online violence severely undermines the rights and interests of citizens and companies, and must be resolutely governed in accordance with the law

Two Ways to Lift China Real Estate Out of Its Slump

Government purchasing of unfinished homes and an insurance program on pre-sale properties could help stop the flagging sector from further dragging on the economy

# Economy #

In Depth: Local Governments Struggle to Tackle Mountain of Hidden Debt

Progress has been slow as many authorities experience difficulties in refinancing the borrowings of their financing vehicles and banks worry about potential bad debts

# China #

Over 800 Chinese Involved in Cross-Border Cybercrime Repatriated From Myanmar

Joint operation gets carried out by China, Thailand and Myanmar as authorities vow to continue crackdown on telecom fraud and online gambling

# The Wall Street Journal #

How TikTok Was Blindsided by U.S. Bill That Could Ban It

Executives of the app thought they had fended off attacks. Behind the scenes, lawmakers and Biden officials were working to force its ban or sale

# Weekend Long Read #

What Does the Data Tell Us About China’s Future Economy?

A close examination of a government report on the country’s social and economic development in 2023 offers a glimpse of what problems will need to be solved going forward

# Gallery #

Forest Fire Rages in Southwest China

# Podcast #

Caixin Biz Roundup: China Adds More Countries to Visa-Free List to Boost Inbound Tourism

Embattled developer Vanke cut to junk rating by Moody’s, EV-maker BYD scouts potential site for Mexico plant

Caixin Global’s Top Stories of the Month newsletter brings you the most popular news coverage over the past month. You may opt in now and get handpicked news coverage delivered to your inbox each month for free.

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