Welcome to the 32nd 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 explore China’s manufacturing data for November, which shows that domestic investment momentum has remained intact, while external demand recovered further. We learn about the news that China’s banking regulator fined China Minsheng Bank, the country’s largest privately owned bank, for selling 1.65 billion yuan ($249 million) of fake wealth management products. We investigate how a private company in China has been sued for bribing jailers to secure a cheap prison-labor deal. We look at the recent child abuse scandal around RYB Education, whose shares plunged last week after the company was pelted by a barrage of class-action lawsuits. We discuss five things you need to know about China’s new energy vehicle policies.
In addition, we talk with Caixin senior editor Doug Young about the state of corporate gift-giving culture in today’s China, and how it differs for government officials, state-owned enterprises, and private enterprises.
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