Welcome to the 41st 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 sweeping plan approved by the National People’s Congress of China, the country’s legislature, to tackle a series of issues such as slow economic growth, environmental degradation, and market volatility. We discuss a recent study that found that 90 percent of Chinese mobile apps offering personal financial services have flaws in their privacy policies that may put consumers’ information at risk. We hear that the U.S. Chamber of Commerce has warned the Trump administration about a proposed move to impose steep tariffs on Chinese imports. We note that an amateur car racer in China found he lost control of his Mercedes-Benz after his vehicle got stuck in cruise control at 120 kph (75 mph). We are informed of good news from bike-sharing leader Ofo that it has secured nearly $900 million in its latest fundraising round.
In addition, we talk with Jing Xuan Teng, business reporter for Caixin Global, about the retirement of Li Ka-shing, one of East Asia’s business titans. We also have a conversation with Doug Young, managing editor of Caixin Global, about Leshi, the debt-ridden company whose shares plunged sharply after the resignation of its chairman, and China’s plan to test commercial-quality 5G wireless services next year.
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