Weekly Must-Read: China’s Launch of World’s Largest Carbon Market Has a Sputtering Start

The Caixin Must-Read newsletter brings you the best of our coverage over the past week, handpicked by our editors. 

# Finance #

In Depth: China’s Launch of World’s Largest Carbon Market Has a Sputtering Start

China has launched its long-awaited national carbon trading market, marking a major step by the world’s largest greenhouse gas emitter to realize ambitious climate goals

SEC Requires Additional Disclosures for Chinese IPOs

Chairman Gary Gensler demands more information on the risks that Chinese government actions could affect company values following $1 trillion China share sell-off

China’s Deleveraging Gathers Pace as Debt-to-GDP Ratio Falls Again

Report shows the economy’s overall leverage ratio has dropped steadily from a record-high 271.2% in the third quarter of 2020

# Cover Story #

The Rocky Road of the Tokyo Olympics

Pandemic controversies, scandals and red ink after a year-long delay may make it tougher to attract cities to host future games

# Business & Tech #

In Depth: China’s Generation Z Inspires Homegrown Beverage-Makers to Take On Coca-Cola

Genki Forest and HeyTea whet investor appetites with ‘China Chic’ to earn pumped up valuations as the two go head-to-head with the U.S. giants

Kuaishou Makes U.S. Market Retreat by Shutting Down Rival App to TikTok

Chinese online video platform bails on pitting Zynn against ByteDance’s app but still plans to pour $1 billion into expanding overseas this year

Evergrande Gets More Assets Frozen as Creditors Sue Over Missed Payments

Litany of litigation sends company’s Hong Kong shares tumbling amid mounting concerns it won’t be able to repay its massive debts

# Economy #

In Depth: Post-Pandemic Recovery Diverges Province by Province across China

Robustness of first-half consumer spending separates winners from losers while burden of new carbon policies falls unevenly

China’s Manufacturing Grows at Slowest Pace in 15 Months, Caixin PMI Shows

Gauge pulled down by the first dip in sales in 14 months as ongoing pandemic overseas weighs on demand

# Opinion #

Wang Tao: What’s Behind China’s Regulatory Headwinds?

Sustainability, stability and security are key motivations, writes the chief China economist at UBS Investment Bank

Ray Dalio: Understanding China’s Recent Moves in Its Capital Markets

Capitalists have to understand their subordinate places in the system or they will suffer the consequences of their mistakes

# China #

Foreign Coaches Give China’s Olympians a Leg Up in Sports Once Dominated by the West

Chinese athletes in Tokyo add to top medal haul with success in events like rowing and fencing

Beijing Moves Quickly to Apply New National Tutoring Rules

City’s education authority orders tutoring enterprises to become nonprofits and exit compulsory education space by year-end

# Gallery #

Chinese Athletes Shine in Tokyo

# Weekend Long Read

Deciphering China’s Housing Conundrum

The real estate market needs to be reformed so that home prices actually reflect local incomes

# Books & Arts #

Exhibitions in August: Collections from Tate and the British Library, and a Last Chance to See Ryuichi Sakamoto

From golden mummies to Dunhuang murals, from Titian to Marc Chagall, search for the must-see art exhibitions and galleries in Beijing and Shanghai

# Podcast #

Tencent Shares Rattle After State Media Blasts Gaming Addiction

Commentary may have spooked investors into thinking it could soon be ‘game over’ for the industry; how a national child welfare law could ease fertility woes; and major private education firms scrap earnings releases