EDITORIAL

• Financial Regulation, Innovation Can Go Hand in Hand

FINANCE

• China Bond Market Sentiment Hurt by Rising Defaults
• Chart: Channeling Business Tapers
• Regulators Pressure Banks to Speed Up Bad-Debt Recognition
• China Tells CDR Funds: Curb Your Enthusiasm
• Finance Apps in Hot Water for Trading Loans for Phones
• Ant Financial Has No IPO Timetable After $14 Billion Fundraising, CEO Says

ECONOMY

• China to Take From the Pension Rich, Give to the Pension Poor
• May Total Social Financing Growth Slowest in 22 Months
• Coal-Mining City Admits It Can’t Pay Salaries
• Provinces Pivot From Infrastructure to Industry

BUSINESS & TECH

• Huayi Brothers Founders’ Large Pledge of Shares Raises Eyebrows
• ZTO to Form Joint Venture with Turkish Airlines, PAL Air
• Xiaomi to Keep Bleeding Cash
• Layoffs Loom After Solar Subsidies Cut
• Chinese Automakers Drive Into New Landscape
• Update: Xiaomi Files to Issue China Depositary Receipts