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 Balancing Act to Keep Its Social Security System Afloat
The government must boost contributions, while addressing calls to reduce the financial burden amid a wobbly economy, the slowest wages growth in 40 years and an aging population
# Business #
China Wind Turbine Exports Surged 60% in 2023
Local manufacturers shipped more than 3.6 gigawatts abroad as they faced intensifying competition at home
TikTok Shop Faces Regulatory Hurdles in Bid to Become No. 1 in Vietnam, Expert Says
Following official criticism, ByteDance’s short-video juggernaut has slowed the pace of its expansion in the country
Musk Hints Full Self-Driving Teslas Are Right Around the Corner in China
CEO says arrival of the software ‘may be possible very soon,’ without offering a timetable
Exclusive: CATL Founder Upbeat About Ford Battery Plant Tie-Up, EVs Future in China
However, the battery giant faces problems, including EU regulatory issues and the difficulty of commercializing solid-state batteries, Zeng Yuqun tells Caixin
# Finance #
In Depth: China’s Insurers Scale Back High-Yield Investment
Long-running real estate crisis and increasing risks in local government debt make insurance asset managers more cautious about debt of developers and LGFVs
Exclusive: ICBC Reshuffles Leadership at Core Department and Wealth Management Unit
Wang Hailu to be chair of ICBC Wealth Management, bringing experience in bond and foreign exchange trading
In Depth: Regulatory Titan Laura Cha Takes Final Bow
The 74-year-old’s career included stints at Hong Kong and Chinese mainland securities regulators and was packed with changes and challenges
Related：
HKEX Appoints Former Regulator Carlson Tong as New Chairman
# News Graphics #
Chart of the Day: Huawei Smartphone Shipments Surge in First Quarter
Analysts attribute the growth to the successful launch of its Mate 60 series, which enabled the company to weather an ongoing campaign of U.S. sanctions
# Opinion #
Why Has Gold’s Inverse Relationship With the Dollar Reversed?
Trump’s growing popularity among voters is fueling the change, as his return to the White House is likely to be followed by a loosening of fiscal policy
China’s Capital Market Rules Get Sharper Teeth
The latest set of ‘National Nine Articles’ offers a roadmap for achieving high-quality economic development through better regulation
# Economy #
In Depth: Why China’s Project Whitelists Can’t Cure Real Estate Slump
Although the lists are helping many developers secure financing to finish their projects, there may not be enough demand for new homes to soak up the extra supply, bankers warn
Canton Fair Sees Surge in Orders as Global Market Recovers from Pandemic
Optimism as export orders grow at Canton Fair but fierce price war means profit margins are being squeezed
China’s Macro Leverage Ratio Rises to 294.8% Despite Slower Borrowing
China’s overall borrowing has been slowing down with total liabilities expanding only 8.8%, the lowest quarterly grown since 2001
IMF Says It May Raise China 2024 GDP Forecast After Strong First Quarter
Fund’s chief economist also highlights continued weakness in property sector, domestic demand
# Tech #
China Falls Far Behind U.S. in AI-Generated Content Funding, Investor Says
Chinese AIGC firms raised around $1.3 billion last year, compared with $23 billion by their U.S. counterparts
# China #
China’s High Court Weighs In on Sham Divorces
New judicial interpretation offers guidance on how lower court judges should apply the country’s Civil Code, including on cases involving property disputes between unmarried couples living together
China’s Top Court Highlights Juvenile Crimes Following Brutal Teenage Slaying
More than one-fifth of minor defendants involved in violent crime cases in the past three years were left-behind children, the court said, highlighting the importance of family supervision
# World #
New Study Uncovers Persistent Covid Virus in Patients Months After Recovery
The Lancet study shows the Covid virus tends to be cleared out of the body slowly but can persist for several months in some patients
U.S. Lawmakers Seek Sanctions on Chinese Carmakers for ‘Aiding Russian Military’
‘No Limits Act’ aims to stop Internet-connected vehicles with Chinese technology from entering U.S. military bases
# Weekend Long Read #
Fleeing Violence at Home, Burmese Struggle to Start New Lives in China
An influx of young people from Myanmar since the beginning of this year has seen Chinese authorities at one key border crossing tighten requirements for entry, leading to a sense of hopelessness among the displaced
# Gallery #
Gallery: Record Downpours Deluge Guangdong
