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 #
How Billions in Bitcoin Laundered From China Ended Up in British Hands
U.K. authorities have seized $4.3 billion of the cryptocurrency linked to a Chinese company that illegally raised 43.5 billion yuan
Analysis: How Likely Are Defrauded Chinese Investors to Recover Bitcoin Seized by U.K. Authorities?
There is little historical precedent for China retrieving criminal proceeds across borders — a costly process involving police and diplomatic cooperation, experts say
# Business #
Dutch, Indian Buyers Snap Up Chinese Solar Panels
Overcapacity and oversupply in China’s industry is fueling a surge in exports of locally made modules
Chinese Gadget-Maker Drops Motorola Lawsuit in China After Fined for Defying U.S. Court
Hytera had been slapped with a $1-million-a-day penalty for violating federal judge’s order against pursuing its intellectual property dispute elsewhere
# Finance #
In Depth: China’s Mammoth Effort to Help Foreigners Spend, Spend, Spend
While scanning QR codes is the ubiquitous payment method in China, it’s not available to most foreign visitors, making it a major hassle to even buy a coffee
Ping An Trust Misses Payment on Property-Backed Investment Plan
The trust company is filing a lawsuit against defaulted developer Zhenro, asserting that it has “obligations to buy back the product”
Hong Kong’s IPO Market Hits a 15-Year Low, but Deloitte Sees Silver Lining Ahead
Slump pushes Hong Kong Stock Exchanges to 10th place but report predicts a rebound later in the year
Hong Kong Regulator Gets First Applications for Spot Bitcoin ETFs, Sources Say
The local units of two mainland mutual fund managers are seeking approval to list exchange-traded funds that track the cryptocurrency’s spot price
# News Graphics #
China Rises in Ranking of Favored Foreign Investment Destinations
Nation jumps to third place on the 2024 Kearney FDI Confidence Index, following a year in which the country’s annual FDI plunged to a 23-year low
# Opinion #
Relying on Governance to Drive Economic Growth
China’s goal of improving its business environment has just gotten a shot in the arm, as the central government has launched a nationwide inspection campaign
Related:
How Can Policymakers Boost Confidence in Private Enterprises?
# Economy #
China Regrets Fitch’s Downward Revision of Its Outlook
Ratings agency’s criteria can’t effectively reflect fiscal policy’s positive role in driving economic growth, finance ministry says
# China #
In Depth: Why China’s Middle Class Is Cutting Back on Private Daycare Centers
Amid the job and income insecurity brought by the lackluster post-pandemic economic recovery, cheaper options are pushing costly private centers out of business
# World #
Commerce Minister Calls Claims About China’s EV Overcapacity ‘Groundless’
Wang Wentao says the allegations misconstrue the nature of globalized trade and calls on Chinese automakers to expand their overseas business
Higher Consumer Spending Would Help China With Its Industrial ‘Overcapacity,’ Yellen Says
The country could rebalance its economy by cutting its household savings rate, U.S. treasury secretary suggests
China, U.S. Agree to Launch Initiatives on Money Laundering, Economic Growth During Yellen Visit
U.S. treasury secretary has held two days of ‘extensive and productive’ meetings with officials including Vice Premier He Lifeng
# Weekend Long Read #
Debunking the Genetic Testing Hype
Experts have called for more regulation of a growing industry rife with exaggeration
# Gallery #
Gallery: Smaller Cities Win Big Over Holiday Weekend
# Podcast #
Caixin China Biz Roundup: Huawei Takes on iOS and Android
Home sales show little sign of recovery, Wanda to cede control of mall unit in $8.3 billion deal
