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The Caixin Must-Read newsletter brings you the best of our coverage over the past week, handpicked by our editors.
# Weekend Long Read #
How Zhongzhi Became the Latest Chinese Financial Holding Group to Fall
For years, the conglomerate held a reputation as one of the premier private financial holding groups in China, but its problems escalated quickly after the sudden death of its founder, Xie Zhikun, in late 2021
Anti-Corruption Storm Sweeps China’s Health-Care Industry
Bribery and kickbacks thrive in a setting where doctors are underpaid, hospital finances are under pressure and suppliers spend vast amounts to compete for sales, experts say
Rooting Out Graft in China’s Health Care Business
Addressing corruption in the medical and pharmaceutical industries requires a focus on both symptoms and root causes, emphasizing the role of the market and self-regulation
Zhongzhi-Linked Trust Company Fails to Repay Maturing Products
Two customers of Zhongrong International Trust fear they may not be able to recoup tens of millions spent on the products
Caixin Explains: The Financial Woes Behind Country Garden’s Missed Bond Payments
The developer says it expects a net loss as high as $7.6 billion in the first half of this year, raising further concerns among investors about its liquidity
Country Garden Plans to Extend One Bond by Three Years, Sources Say
Eleven onshore bonds issued by the property giant and two of its subsidiaries were suspended from trading on Monday, heralding debt restructuring negotiations
In Depth: TikTok’s Foray Into Southeast Asian E-Commerce Is No Slam Dunk
Rapidly growing market holds great potential, but the ByteDance unit faces competition from homegrown rivals backed by Tencent and Alibaba
In Depth: How a Regional Low-Speed Carmaker’s Big EV Dreams Crashed
After an underwhelming transition to conventional EVs and a restructuring bid, the production lines at Weifang-based Levdeo lie still
Exclusive: Former President of World’s Top Port Operator Under Graft Probe
Investigation of Shanghai port’s Yan Jun leads to collapse of $207 million equity tie-up with Jiangsu Lianyungang Port
Construction begins on mega pumped-storage power station, hydrogen industry receives its first development guidelines
Did China’s Youth Jobless Rate Really Hit 46.5%?
Staggeringly high figure goes beyond conventional international definitions of youth unemployment as it includes those who are not in school or looking for work
Charts of the Day: The Missing Data in China’s Rising Unemployment
Factors including whether students seeking jobs before graduation should be counted and the age range corresponding to youth need further research, NBS says
Alibaba’s DingTalk to Split From Cloud Division and Seek Own IPO, Source Says
After the spinoff, the workplace collaboration platform will operate as a standalone unit within the e-commerce giant
Falsifying Carbon Emissions Data Is Now a Crime in China
Those found to have knowingly falsified greenhouse emissions tests or issued fake report verifications can now be sentenced to up to 10 years in prison
Four Things to Know About Biden’s New China Investment Limits
Administration targets U.S. investments in China that would help develop advanced semiconductors, quantum computing and AI
BRICS Leaders to Discuss Expansion of the Bloc, Brazilian Top Diplomat Says
A consensus on admitting new members is ‘key to the continuing success of the group,’ Mauro Vieira tells Caixin
Caixin China Biz Roundup: Tesla Reignites Price War Fears
Biden signs narrow China investing rules as U.S. seeks better ties, and flights between the two countries set to double
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