Welcome to the seventh 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 includes a business news roundup, conversations with Caixin reporters and editors, and a selection of complete stories from the news, read by Kaiser and Sinica rotating co-host Ada Shen.
This week, we look at the crackdown on “fake equity, real debt” by China’s financial regulators, at the downgrade by Moody’s of China’s sovereign credit rating, and at the upcoming IPO of Shenzhen biotech giant BGI. We chat with Poornima Weerasekara about the reasons for the box office success of a Bollywood film about a family of wrestlers, and with Doug Young about Chinese companies’ acquisitions of a Australian condom maker and the popular gay dating app Grindr. We also bring you five complete stories:
- The latest chapter in the Rise of the Machines sees a Chinese weiqi (Go) champ defeated by a Google AI system.
- The connections between dirt-dishing billionaire-on-the-lam Guo Wengui and former British prime minister Tony Blair, who helped connect Guo with funds from the emirate of Abu Dhabi.
- Beijing’s “stores without doors” struggle to cope after the city government walls over many illegal storefronts around the capital.
- The Chinese government reacts to a scientific fraud scandal after a German academic journal retracts over 100 cancer-related papers for plagiarism and fake peer reviews.
- Poor pay, along with physical and verbal abuse, provokes a critical shortage of nurses in China’s hospitals.
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