Welcome to the 12th 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 a flight from Shanghai was delayed for almost six hours due to a passenger tossing coins at the engine for good luck — one fell inside, leading to the opposite effect. We report on how China Eastern Airlines started construction on a 13 billion yuan ($1.9 billion) aviation facility at the new mega airport going up in southern Beijing. We cover the world’s first clearinghouse dedicated to third-party online payments, which went live in China last week. We examine the Rio Tinto shareholders’ approval of a $2.69 billion sale of the company’s coal unit to Chinese coal producer Yancoal Australia. We discuss ChemChina’s announcement of the completion of its $49 billion takeover of Swiss agribusiness giant Syngenta. We talk to Caixin senior editor Doug Young about the dismantling of the futuristic “car-straddling bus” in Qinhuangdao. We also chat with Jingxuan Teng about the attempts to unify new long rail lines running between China and Europe. In addition, we bring you four complete stories:
- The tie-up between Amazon.com and China Mobile to release the first co-branded Kindle e-reader.
- The new trend of robot-operated convenience stores, starting in Guangzhou and set to quickly expand throughout the country.
- How Chinese social media commentators are divided over an attack on a customer by a deliveryman.
- How an environmental activist who was convicted of blackmailing a Chinese oil giant has had his sentence commuted.
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