Welcome to the 27th 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 features a business news roundup, plus conversations with Caixin reporters and editors.
This week, we hear about the death of Lu Guanqiu 鲁冠球, founder and chairman of Wanxiang Group Corporation, the largest automotive parts firm by revenue in China. We take a look at a new report that shows that the Chinese mainland added an average of two new billionaires every week last year, helping Asia replace the U.S. as the world’s most fertile cradle for individual wealth. We explore the debut of China’s next-generation rail cars in Shanghai, which are expected to add huge flexibility to China’s high-speed train fleet. We analyze the latest move by JD.com to welcome back thousands of mom-and-pop merchants to its online shopping malls. We take a deep dive into the news that China’s ruling Communist Party has downsized its powerful Central Military Commission in a major reshuffle.
In addition, we speak with Caixin senior editor Doug Young about McDonald’s China’s decision to change its name from Maidanglao (麦当劳 màidāngláo) to Jingongmen (金拱门 jīngǒngmén), which is Mandarin for “golden arches.” We also have a discussion with Doug about three newly U.S.-listed China-concept stocks and some viral images in China that show a man helping himself to food he’s delivering. We also talk to Caixin researcher Yu Bokun, who recently spoke with North Korean merchants and experts about how the tightening sanctions are affecting China-North Korean businesses.
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