Welcome to the 39th 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 how one of the biggest donkey-hide supplement makers in China lost millions of dollars due to a dustup over the potency of the traditional Chinese medicine. We discuss the news that the Chinese government has suspended the distant-water fishing activity of a company involved in a shark-smuggling case near Ecuador. We hear that leading Chinese online video site iQiyi has filed an IPO in New York, seeking to raise up to $1.5 billion. We study some new guidelines released by China’s top prosecutor, which aim to curb the misuse of psychiatric hospitals by police and hospital managers to incarcerate political dissidents, activists, and petitioners. We explore how China’s metals industry lashed out against U.S. President Donald Trump’s plan to impose tariffs on two metals that China exports to the U.S. in large quantities. We note that China’s movie theaters have smashed the monthly box office record for a single market, taking in $1.6 billion in February, thanks to the success of domestic blockbusters during the weeklong Lunar New Year holiday.
In addition, we talk with Doug Young, managing editor of Caixin Global, about Chinese phone maker Xiaomi’s prospects for its expected IPO and China’s private conglomerate CEFC China Energy, whose founder and chairman has been placed under investigation.
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