Editor’s Picks: Holiday Travel Gets Squashed, as Miner Rescue Lights Up Social Media

Travel is in the air as we move closer to the Lunar New Year holiday, usually the time of what is considered the biggest annual migration on the planet. Or not. Check out our latest coverage for a look at how Beijing is playing the spoiler for millions of Chinese annual family reunions. Meantime, our coverage on what to look for under the administration of new U.S. President Joe Biden marches on with takes on everything from the potential reopening of shuttered consulates to the lifting of some of Donald Trump’s high-tech bans. And if politics and human migrations aren’t your thing, maybe we can warm your heart with our coverage of a mining accident and subsequent rescue that captivated China for the better part of two weeks.

— Doug Young, managing editor

Whither U.S.-China relations?

My weekly best picks begin with our cover story, which gives the Caixin view on the many challenges facing Joe Biden and how he’s likely to tackle them.

Cover Story: The Monumental Challenges Facing Biden

Still on Biden but closer to China, these remarks by the country’s ambassador to the U.S. also shed some light on how a diplomatic thaw could progress between the world’s two biggest economies.

U.S. Should Make the First Move on Reopening Consulates, Chinese Envoy Says

And this call from a major industry group to lower some of Trump’s many high-tech bans sheds some light on challenges U.S. companies are facing and how Biden might move ahead.

U.S. Chip Group Calls for Rethink of Trump-Era China Prohibitions

Banking cleanup marches on

This story shines a spotlight on the numerous signals coming from the banking regulator that indicate a cleanup of the underregulated private financial sector is still at the top of its list in 2021.

Banking Regulator’s 2021 To-Do List Focuses on Fintech, Asset Management

Speaking of cleanup, no week would be complete without the latest default news, this week coming from an SOE in financially challenged Guizhou province.

SOE in Troubled Province Defaults on Trust Loan

And on a more upbeat financial note, foreign investors will soon be able to partake in the bounty of China’s go-go high-tech STAR Market through the program linking the Hong Kong and Shanghai stock exchanges.

China to Open New Path for Foreign Investors to Trade Hot High-Tech Board Shares

Travelers, take note

The Lunar New Year is typically China’s busiest travel period as hundreds of millions take to the road to go home for family reunions. But read how this year Beijing is putting a damper on many plans in a bid to prevent new coronavirus outbreaks.

China Prepares for Smallest Lunar New Year Travel Rush on Record

Meantime, the shakeup in global travel trends unleashed by the pandemic has led an unlikely candidate here in China to emerge as the world’s busiest airport in 2020.

South China Airport Becomes World’s Busiest as Pandemic Grounds Flights Almost Everywhere

And speaking of air travel, find out how one person discovered traveling during the pandemic can be hazardous to your legal health if you fail to disclose Covid symptoms before getting on the plane.

China Punishes U.S. Returnee Who Kept Covid Symptoms Secret

Finally, anyone in search of a nice feel-good story should check out this item from our “Trending in China” series, which looks at the warm online reception received by a group of gold miners who were rescued after being trapped underground for two weeks.

Trending in China: Gold Mining Rescue Lights Up Weibo

And if that’s not enough, here are links to some of Caixin’s other must-reads from the past week.

# Finance #

Exclusive: World’s No. 1 Bank to Tap Relative Newcomer as Its Next President, Sources Say

In Depth: Why China Ratings Agencies Didn’t See the Corporate Default Wave Coming

# Business & Tech #

In Depth: Pandemic Demand, Smartphone Shuffle Put Squeeze on Global Chipmakers

# Weekend Read #

‘Loneliest Species’ Gets Second Chance at Survival

# Podcast #

Apparent Suicide Raises Concerns Over Shady Elderly Care Homes