The Best Reads of the Week From Caixin
Several high-end car companies have announced they will lower the reference prices for their vehicles in China, following the government’s upcoming reduction of import duties for select cars to 15% from 25%.
The Pearl River Delta has been a shining example of China’s economic success over the past four decades of reform and opening-up. Now, leaders want the region to continue to glow with an ambitious plan to make it even bigger and stronger, expected for release by the end of May.
China’s state-owned aircraft-maker said it has received bids from seven foreign and local manufacturers looking to supply the engine for its first wide-body plane, jointly developed with Russia and slated for commercial launch as soon as 2025.
Tropical Hainan island’s plans to build racecourses will not be the first in modern China — but they may become the first successful ones. To become profitable, long-term ventures, they must escape the problems that have plagued China’s other horse-racing hubs so far.
A Chinese energy conglomerate became the latest to rock financial markets after it defaulted on $350 million in offshore bonds, underscoring the pressures choking debt-driven companies amid China’s deleveraging campaign.
These are the five stories that I don’t want you to miss from last week. Please share your comments on the In Focus section and on our other coverage at email@example.com.
And when you’re done perusing these must-read stories, check out Caixin’s weekly digital magazine.
Imported cars are inspected at a Qingdao port. Photo: VCG
The 55-kilometer Hong Kong-Zhuhai-Macau Bridge that is set to be open this year. Photo: VCG
COMAC and its Russian partner plan to have China’s first wide-body jet, the C929, flying commercial flights as early as 2025. Photo: VCG
Kaiwei Ecosystem City was a proposed 115-acre racecourse in Hainan province, but it remains unfinished, more than a quarter-century after the project was launched. Photo: Wang Di
China Energy Reserve has $1.8 billion of offshore debts outstanding, which will be affected by cross-default provisions. Photo: IC
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