Jan 12, 2018 05:42 PM

The Best Reads of the Week From Caixin

Chinese Premier Li Keqiang has revealed the economy grew by around 6.9% last year, just days before the government is due to officially release the numbers. The growth rate, if confirmed next week, would be the first acceleration in seven years.

An ambitious deal between Dalian Wanda and U.S. tech giant IBM to join forces and become a top player in China’s booming cloud-computing market appears in serious jeopardy, with the Chinese property and entertainment conglomerate planning deep job cuts in a key department, sources told Caixin.

Ant Financial Services Group said it will conduct sweeping reviews of all its business lines after being reprimanded by regulators for data-privacy violations.

Global hotel giant Marriott International Inc. apologized after online anger erupted over its description of Hong Kong, Macau, Taiwan, and Tibet as “countries” in a recent customer survey.

Rescue crews were forced to retreat from a burning oil tanker in the East China Sea on Wednesday after an explosion on the ship — which was still ablaze four days after colliding with a cargo ship.

These are the five stories that I don’t want you to miss from last week. Please share your comments on The Weekender section and on our other coverage at

And when you’re done perusing these must-read stories, check out Caixin’s weekly digital magazine.

Kind regards,

Doug Young

Managing Editor

Premier Li Signals 2017 Growth Beat Target

GDP increases around 6.9% last year, likely giving leaders more leeway to push ahead with reforms


China's total foreign trade also increased in 2017 for the first time in three years, he said, according to the Xinhua News Agency report on Thursday. Photo: Visual China

Wanda-IBM Cloud Ambitions Turn Stormy

Wanda plans layoffs in cloud-computing department, as partnership with U.S. tech giant in hot Chinese market is put on hold


Wanda didn’t disclose how many employees in the cloud-computing unit will be laid off, but executives said “only a few people will stay,” an employee told Caixin. Photo: Visual China

Ant Financial to Review Privacy Policy After Receiving Slap on Wrist

After avoiding punishment, company creates personal information protection department


The Cyberspace Administration of China said that Alipay’s and Zhima Credit’s collection of individual information violated a pledge that Ant Financial Services Group signed on individual information protection. Photo: IC

Marriott Draws Fire Over Geography Slip-Up

Customer survey labeling Tibet, Macau, Hong Kong and Taiwan as ‘countries’ draws online ire


Marriott International Inc. has posted an apology for identifying Hong Kong, Macau, Taiwan and Tibet as "countries" in a customer survey, saying that it "respects China's sovereignty and territorial integrity." Photo: IC

Explosion on Burning Oil Tanker Forces Back Rescue Teams

31 crewmembers still missing from vessel heading from Iran to South Korea


Chinese officials said that the Panamanian-flagged oil tanker Sanchi was already on fire when it collided with the Hong Kong-flagged cargo ship CF Crystal in the East China Sea on Saturday. Above, the Chinese ship Shen Qian Hao (foreground) sprays foam on the Sanchi on Wednesday before the arrival of firefighting crews that night. Photo: Visual China

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