Welcome to the 89th 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 Wal-Mart, Target, Macy’s, and hundreds of other companies and associations made a plea to President Donald Trump not to impose additional tariffs on Chinese goods, and to return to the negotiating table to strike a trade deal with Beijing.
- We discuss whether China’s baby-formula makers will ever overcome the melamine contamination scandal that killed six infants in 2008.
- We hear that the Hong Kong Stock Exchange will eliminate any “vermin” among its ranks, chief executive Charles Li has told reporters, referring to recent reports of internal corruption on the bourse.
- We find out that China’s credit reporting system now has data on nearly 1 billion citizens as well as 26 million businesses and other types of entities.
- We report how Didi is back on regulators’ watch lists again after a driver for the ride-hailing company hit four people in Shanghai last week, seriously injuring one, while rushing to avoid inspectors.
- We analyze a new report from BMW, which shows a 33 percent sales jump in China during May after a shift to local production of its X3 sport utility vehicle boosted deliveries, defying a yearlong pullback in the world’s largest auto market.
In addition, we talk with Doug Young, managing editor of Caixin Global, about Chinese ecommerce juggernaut Alibaba and its proposed listing on the Hong Kong Stock Exchange.