The Best Reads of the Week From Caixin

China’s securities regulator went live with a series of highly anticipated guidelines for the China depositary receipt (CDR) pilot program, setting the scene for the country’s foreign-listed tech titans to trade shares at home.

Short-video app Douyin now has more daily downloads in China than any other free app. It took just two years for Douyin to hit the jackpot. It took four years for its biggest rival, Kuaishou, which means “deft hand,” to become the top video app in 2017 before being overtaken by Douyin.

Five listed real estate developers have suspended bond issuances totaling 38.1 billion yuan ($5.93 billion) over the past two weeks amid growing risk-aversion among investors.

Move over, Wesley Snipes. Fan Bingbing, a Chinese equivalent of Angelina Jolie, has landed in hot water with China’s tax collectors over allegations of using business contracts to evade taxes.

Tang Ronghan first heard the term “impact investment” on a business trip to Cambodia in 2011, where he met two college-age volunteers from the U.K. Such investments, which seek social or environmental benefits alongside financial returns, are common in parts of the developed world, such as the U.S. or U.K. But they are uncommon in China.

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 news@caixin.com.

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

Kind regards,

Doug Young

Managing Editor

Securities Regulator Sets the Stage for Tech Titans’ Domestic Listing

The China Securities Regulatory Commission details rules on the trading of the nation’s strategically vital tech sector on domestic bourses

Chinese regulators are encouraging tech listings in the mainland market in a bid to invigorate the domestic capital market. Photo: VCG

Short Videos, Big Ambitions

Douyin, Kuaishou to take their battle for attention global

A video is made of Chinese tourists smashing their bowls after finishing their drinks at the Yongxingfang Food Court in Xi’an, Shaanxi province, on April 6. Photo: IC

Property Developers Suspend Bond Issuances Amid Investor Jitters

Action of five listed developers adds to concerns over tightening credit conditions

Construction of the Country Garden real estate development in Dalian, Liaoning province, is seen. Photo: VCG

China’s Highest Paid Celebrity Probed for Tax Evasion

A-list actress Fan Bingbing accused of using smoke-and-mirror contracts

Fan Bingbing plays 'Blink' in 2014's "X-Men: Days of Future Past." Photo: VCG

‘Impact Investing’ Seeks to Grow Up in China

Interest in corporate projects with philanthropic angles exists, but funding remains scarce

China is home to hundreds of billionaires, but its philanthropy has yet to catch up with this growth, and “impact investments” are still in their infancy compared with the West. Photo: VCG