Welcome to the 15th installment of the Caixin-Sinica Business Brief, a weekly podcast that brings you the most important business stories of the week from China’s top source for business and financial news. Produced by Kaiser Kuo of our Sinica Podcast, it includes a business news roundup, conversations with Caixin reporters and editors, and a selection of complete stories from the week’s news, read by Kaiser and Sinica rotating co-host Ada Shen.
This week, we hear how R&F Properties replaced rival Sunac China Holdings to purchase over 70 Wanda Group hotels. We examine the news of the Chaoyang District Police announcing they will hire 2,400 native Beijingers to conduct door-to-door “safety” checks on the city’s migrant residents. We look at how beleaguered tech company LeEco defaulted on a $75 million bond that was due on July 7. We discuss China’s Ministry of Environmental Protection banning imports of solid waste by the end of this year. We learn about China unveiling a national development plan for artificial intelligence industries, outlining ambitions to become a world leader in AI by 2025. We talk to Caixin senior finance reporter Aries Poon about the significance of the recent National Financial Work Conference, and we chat with Caixin senior editor Doug Young about the vexing phenomenon of flight delays in China. In addition, we bring you five complete stories:
- How Chinese students studying overseas — over half a million of them — are spending over 56 billion dollars annually.
- How a newly reached agricultural agreement between China and the U.S. may result in U.S.-grown rice being imported into China.
- How Red Bull’s business in China — where a local partner is at the end of a 20-year lease agreement and there’s now wrangling over trademark rights — will fare while Red Bull’s big rival in the energy drink industry, Monster, tries to muscle in.
- How a primary school in Zhejiang has landed itself in trouble for requesting background checks only for migrant parents in a policy seen as discriminatory.
- The life of Zhang Zhongpei, the long-serving director of Beijing’s Palace Museum, who died at the age of 83.
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