Welcome to the 46th 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.
- We note that a North Korean nuclear test site near the border with China has collapsed, leaving it vulnerable to radiation leaks.
- We analyze President Donald Trump’s new remarks on U.S.-China relationships, which indicated that the two countries would have a “very good chance at making a deal” on trade.
- We learn that leading Chinese travel platform Ctrip has invested in a U.S. supersonic airplane startup, Boom Technology, as high-speed technology soars back toward commercial use.
- We explore new data about China’s smartphone market, which performed worse than any other major global region in the first quarter of this year, with demand down by 6 percent as the market suffered from saturation.
- We discuss the news that Manbang Group, operator of a market-leading mobile app that matches truck drivers with shippers, closed a funding round of $2 billion from a group of investors led by China Reform Fund and Japan’s SoftBank.
- We hear that several competitors in the Chinese ride-share market are revving their engines, as Didi Chuxing currently has 90 percent of the market.
- We find that the global #MeToo movement claimed a small victory in China after a prominent academic at the prestigious Shanghai Jiaotong University was removed from his post over alleged sexual harassment.
In addition, we talk with Doug Young, managing editor of Caixin Global, about sexism in China’s high-tech world, and Chinese telecom giant Huawei, which is now under investigation by the U.S. Department of Justice over alleged violations of U.S. sanctions related to Iran.
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