Welcome to the 37th 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 learn about a man in China who was awarded 1.9 million yuan ($301,796) in compensation last week after being wrongfully convicted of molesting dozens of women last year. We explore some new data released by the China Internet Network Information Center (CNNIC), which suggests that the country had 772 million internet users by the end of 2017 and that 97.5 percent of them used mobile phones to surf the web. We find out that Hong Kong’s legislature has voted to completely end the city’s ivory trade by 2021, weeks after the Chinese mainland’s ban took effect in January. On the topic of Hong Kong, we also note that the city’s property market is on fire, and it’s only expected to get hotter. We hear good news from Xiaomi that sales for the smartphone maker surged in last year’s fourth quarter as the company extended its comeback. We cover some environmental protection workers in Hunan Province who were found to be using mist cannons to water down pollution readings in two recent cases.
In addition, we chat with Caixin Global reporter Coco Feng about the latest in livestreaming — a game that people are playing for cash prizes that’s really giving a jolt to livestream sites. We also talk with Doug Young, managing editor of Caixin Global, about Alibaba Group Holding’s announcement to purchase a 33 percent stake in fintech affiliate Ant Financial Services Group, and Baidu, which has been sued by news aggregator Jinri Toutiao for unfair competition as the pair’s battle for advertising market share intensifies.
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