Welcome to the 30th 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 look at the new regulations issued by the China Banking Regulatory Commission, which were specially designed for the nation’s three state-owned policy banks, clarifying their business positions and enhancing oversight of risk control. We learn the news that Panama opened its first-ever embassy in China last week, with Panamanian President Juan Carlos Varela and Chinese Foreign Minister Wang Yi overseeing the inauguration. We hear good tidings from online retailer JD.com, which reported its best-ever quarterly results. We analyze why China’s investment and aviation conglomerate HNA Group removed the head of its tourism unit, which runs HNA’s flagship Hainan Airlines, in a major leadership reshuffle. We explore U.S. chipmaker Qualcomm’s new investments in nine Chinese startups, including AI star SenseTime Group and on-demand bicycle firm Mobike. We discuss why China Huishan Dairy Holdings asked its lawyers to begin provisional liquidation of the heavily indebted company.
In addition, we speak with Caixin editor Poornima Weerasekara about the child abuse scandal at a Ctrip daycare center in Shanghai, and have a conversation with Caixin reporter Coco Feng about Apple, which is working on a fix for its iPhone X smartphones after reports that their screens are unresponsive when cold.
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