Welcome to the 10th 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 news, read by Kaiser and Sinica rotating co-host Ada Shen.
This week, we hear how the China-backed Asian Infrastructure Investment Bank approved its first equity investment, for infrastructure development in India. We examine the news that China has approved imports of new varieties of genetically modified corn and soybeans, and that global toy-maker Mattel will embark on a new joint venture to create play clubs in China with private equity giant Fosun Group. We give an update on the kindergarten bombing in eastern Jiangsu Province. We also talk to Caixin Global editor Doug Young about a massive overhaul planned for Shanghai’s landmark department store, and chat with Caixin reporter Li Rongde 李荣德 about the brain drain of China’s rust belt in the northeast. In addition, we bring you five complete stories:
- How a poorly done Chinese remake of a popular Japanese television drama has drawn fire from audiences in China.
- How social fitness apps and a growing middle class has sparked interest in running in China, prompting many cities to hold marathons.
- The ongoing crackdown against celebrity gossip on the wildly popular app Weixin, otherwise known as WeChat.
- China’s crayfish craze and how farming the “little lobsters,” as they’re called in Chinese, has become a massive and growing industry.
- How Chinese netizens are angry that the ubiquitous Xinhua Dictionary is now charging for word lookups on its smartphone app.
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