The Caixin-Sinica Business Brief, episode 93


Welcome to the 93rd 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.

This week:

  • We note that Li Jinxing 李金星, a Chinese rights lawyer who made his name fighting against wrongful convictions, is now contesting an official decision to revoke his license for “improper remarks on the internet.”
  • We discuss a recent investigation into FedEx conducted by the Chinese government, which disputed the American courier’s explanation for “misdirected” Huawei parcels, saying that it also discovered other clues that the company had violated laws and regulations.
  • We report that Hong Kong picked the next head of its de facto central bank last week, amid social unrest that has shaken the financial hub recently.
  • We hear that Chinese telecom giant Huawei’s 5G-ready smartphone, the Mate 20 X, will formally go on sale on Aug. 16, marking the second launch of a handset supporting fifth-generation wireless technology produced by a Chinese company.
  • We find out that Nur Bekri, the former head of China’s National Energy Administration, pleaded guilty to accepting millions of dollars’ worth of bribes during a court trial that makes him the latest high-profile former official to fall foul of an ongoing government crackdown on corruption.
  • We analyze Interstellar Glory Space Technology, which has become the first private Chinese space company to successfully launch a rocket into orbit, marking an important milestone in the development of the country’s commercial space industry.
  • We chat about new materials released by the Minnesota police regarding founder and chairman Richard Liu, who was accused of rape by a Chinese student at the University of Minnesota.

In addition, we talk with Tianyu Fang, reporter for Caixin Global, about Justin Sun, a cryptocurrency entrepreneur who raised eyebrows by cancelling a $4.6 million lunch with Warren Buffet.