Welcome to the 64th 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 China stocks went for a wild ride last week, with the benchmark index hitting it lowest level in years Monday, then rebounding with its best weekly performance since 2016.
- We discuss how Nur Bekri (努尔·白克力), director of the National Energy Administration and a vice chairman of the country’s economic planning agency, was placed under investigation for suspected corruption.
- We hear that China canceled plans over the weekend to hold trade talks with the U.S.
- We learn that the Executives of Bank of China’s Guangdong branch may soon take a pay cut to compensate lower-income employees.
- We find out that Jack Ma said there is “no way” Alibaba will be able to meet an earlier pledge to create 1 million U.S. jobs due to deteriorating U.S.-China trade relations.
- We explore how China plans to ban foreign TV shows in prime time and to limit overseas content on streaming platforms.
- We report that China’s top film regulator has signaled it will ban companies from subsidizing online movie-ticket sales.
- We learn that China’s tobacco sales returned to near-record highs three years after a significant hike in tobacco taxes in the world’s largest producer and consumer of cigarettes.
In addition, we talk with Caixin Global reporter David Kirton about the World Economic Forum in Tianjin, in particular how Premier Li Keqiang talked about the Belt and Road initiative at the forum.
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