Weekly Must-Read: Emphasis on Common Prosperity Encapsulates Major Shifts in China’s Development Philosophy

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

Emphasis on Common Prosperity Encapsulates Major Shifts in China’s Development Philosophy

Following decades of rapid progress, the focus is changing from growth rate to social security, efficiency to equity and capital to labor

Related

China Pledges to Rein In Incomes of the Wealthy and Build Common Prosperity

# Cover Story #

How the Taliban’s Return Shakes Up Central Asia

China has a unique role to play in the transition as it is the least controversial among external powers involved in Afghanistan, experts say

# Business #

Investors Dump More Alibaba Shares as Bears and Bulls Grapple

T. Rowe Price ditches 16 million American depositary shares while Goldman Sachs buys nearly 6 million

Ride-Hailing Companies Should Pay Their Drivers Better and Limit Their Hours, Transport Authority Says

Senior official says some ride-hailing platforms have made ‘arbitrary’ changes to drivers’ terms after achieving market dominance

# Economy #

China to Speed Up Public-Private Partnership Legislation

Finance Ministry puts a priority on completing overhaul of PPP rules after four years of delays and disputes after NPC raises the issue

# Finance #

Sale of Fallen Anbang’s Core Assets Delayed as Potential Bidders Drop Out

The auction of a 99% stake in Dajia, which holds the former insurance conglomerate’s core assets, has been pushed back by two weeks

In Depth: What Could Stop the Hottest Thing in IPOs From Landing in Hong Kong

It will be no simple task for the financial hub to allow SPAC listings, as the local securities regulator remains concerned about shell companies being used to manipulate the market

# Energy Insider #

China’s Domestic Oil May Face Biggest Price Drop This Year

Tianqi’s lithium project in Australia to start operations this year; Ningxia calls energy offenders on the carpet; four rescued in coal mine roof collapse

# Opinion #

One Reason for China’s New Emphasis on ‘Common Prosperity’ — Widening Wealth and Income Gaps

A decades-long focus on growth and efficiency over fairness has contributed to inequality and a decline in social mobility

# China #

Six Things You Should Know About China’s Personal Information Protection Law

The law ‘gives information owners as comprehensive a set of rights as possible,’ a Renmin University law professor says

# World #

Analysis: U.S. Vice President’s ‘Softened’ Rhetoric on China in Southeast Asia Is ‘Deceptive’

Kamala Harris says American policy in the region is ‘not against any one country, nor is it designed to make anyone choose between countries’

# Gallery #

Life Goes on Despite Downpours Across China

# Podcast #

Behind China’s Personal Information Protection Law

How the new legislation will protect the public’s private data; pork giant gets hamstrung by family feud; and gambling stocks soar after Macau eases Covid restrictions