Welcome to the 28th 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 discuss how sales of the latest iPhone helped Apple post its first China growth in almost two years. We analyze two news items about Alibaba — that its co-founder Joe Tsai is buying a 49 percent stake in the NBA’s Brooklyn Nets, and that the company reported a staggering 146 percent year-on-year profit increase in its latest quarter. We explore Tesla’s ambition to tap the new-energy car market in China by promoting hundreds of thousands of its moderately priced electric vehicles. We delve into a recent statement from China’s cyberspace authority that Beijing will create a database of online news practitioners, a blacklist of “fake news” platforms, and a mechanism for users to report fake articles.
In addition, we speak with Caixin senior editor Doug Young about Alipay and Didi Chuxing, the two sector leaders that are following a global expansion path similar to many Chinese service operators by making their services available first to millions of Chinese traveling overseas. Also with Doug Young, we talk about a new agreement between China and the U.S. to recognize each other’s aircraft product-safety systems, and Microsoft CEO Satya Nadella’s third trip to China, during which he visited President Xi Jinping, smartphone maker Xiaomi, and the prestigious Tsinghua University.
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