Welcome to the 88th 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 struck back this week in the trade war with the U.S., releasing a white paper outlining its stance and taking several moves against American entities.
- We explain why we expected China’s manufacturing to slip into contraction in May, but things were worse than anticipated, as export orders fell sharply amid continuing U.S.-China trade war pressures.
- We analyze Ma Chaoqun 马超群, a former deputy Party secretary at a state-owned water company in the resort city of Qinhuangdao, who has been accused of accepting bribes worth over $14 million.
- We hear that cheaper Tesla cars set to hit the Chinese market soon could lure price-sensitive buyers away from budget-friendly domestic brands, but local electric-vehicle makers Nio and Xpeng say they aren’t fazed by the change.
- We report that China’s rapidly growing short-video industry is threatening to overtake its long-video peer due to its social-media friendliness and the vast number of Chinese mobile users.
- We find out that shares in companies that make electronic tolling systems — which allow cars to whiz past unmanned tollbooths without stopping — have begun soaring.
In addition, we talk with David Kirton, reporter for Caixin Global, about Chinese rare earth elements. We also chat with Doug Young, managing editor of Caixin Global in Beijing, about a Hong Kong restaurant that’s in the news.