The Best Reads of the Week From Caixin

China is not going to sit out the cryptocurrency revolution. It may have become the first country to ban initial coin offerings — fundraising through digital money — followed by the shutdown of digital money exchanges. But the Middle Kingdom is looking at the possibility of issuing a digital version of the yuan and is experimenting with uses for blockchain, the underlying technology of the cryptocurrency world. We took a deep dive into China’s role in this potential game-changer in the world’s finance.

Far from the cyberworld, China’s mangrove swamplands are disappearing — and taking with them stops for migratory birds, spawning grounds for aquatic life and shields for coastlines. But China’s mangroves are becoming a line from the old Joni Mitchell song: “They paved paradise and put up a parking lot.” You can watch what has happened in our video.

China is still seeing weak expansion in services. The latest Caixin China General Services Business Activity Index rose to 51.2 last month from 50.6 in September.

Meanwhile, China’s State Council plans to allow mainland firms again to freely convert nonlisted “domestic shares” into “H-shares,” traded on the Hong Kong Stock Exchange.

And billionaire Li Ka-shing sold The Center office property in Hong Kong for $5.15 billion. Not a bad day at the office.

These are five stories that I don’t want you to miss. Please share your comments on The Weekender section and on our other coverage at news@caixin.com.

Kind regards,

Deb Price

Managing editor, Caixin Global

No Bit Player

China's outsized role in cryptocurrency world expected to continue despite its bans

Photo: Visual China

Services Activity Expansion Remains Weak, Caixin Survey Shows

Index sees uptick over prior month but remains among slowest rates in two years

The Caixin China Composite Output Index, which covers manufacturing and services companies, saw its weakest expansion in 16 months in October. Above, a hotel-room service competition takes place in Yantai, Shandong province, in October 2016. Photo: Visual China

China to Test Out Full H-Share Convertibility

State Council revives policy allowing mainland firms to freely convert nonlisted ‘domestic shares’ into Hong Kong-traded shares

In 2005, when China Construction Bank debuted in Hong Kong, its H-shares were “fully convertible.” It was the first — and the last — Chinese company whose unlisted domestic shares were fully converted to H-shares. Photo: Visual China

Billionaire Pares Real Estate Holdings With Sale of Hong Kong Skyscraper

Li Ka-Shing agrees to sell The Center for $5.15 billion to mainland-led consortium as he continues to divest assets

CK Asset Holdings Ltd., controlled by 89-year-old Hong Kong billionaire Li Ka-shing, plans to sell The Center, the city’s fifth-tallest building, to C.H.M.T. Peaceful Development Asia Property Ltd. for HK$40.2 billion ($5.15 billion). Photo: Visual China

As China Builds More on the Sea, Nature’s Beauty Gets Buried

Rising tide of land reclamation swallows habitats of migratory birds, dolphins, coral reefs