Jun 12, 2021 06:21 PM

Weekly Must-Read: PBOC Considers First Applications for New Financial Holding Company License

Caixin Must-Read brings you the best of our coverage over the past week, handpicked by our editors.

# Finance #

PBOC Considers First Applications for New Financial Holding Company License

Citic Group subsidiary and Everbright apply to become financial holding companies under the tightened central bank rules introduced in September

# Cover Story #

Guangzhou’s Battle Against a Potent Virus Variant

With more than 70 new Covid-19 cases in two weeks, city’s response will test China’s ability to tamp down mutations

# Business & Tech #

In Depth: The $15 Billion Chinese Fast Fashion App You’ve Never Heard Of

Closely-held Shein is valued among the world’s biggest tech startups and is challenging Western rivals like Zara with a wide product range sold at bargain-basement prices

In Depth: Continuing Trump Policy, Biden Expands Chinese Military Blacklist

Lengthening list to 59 firms is latest signal that the U.S. president intends to maintain the Trump administration’s harder stance toward Beijing

Alibaba-Backed Zuoyebang Slashes Tutoring Sales Staff

After-school training company is part of an industry facing new protection-of-minors legal restrictions and heightened government pressure over illegal activities

# Energy Insider #

Eight People Killed in Henan Coal Mine; Tianjin Shuts Steel Mills to Cut Pollution

Steel prices forecast to remain high amid strong demand; auto production slowed by parts shortages; pandemic has stocks of shipping containers out of whack

# Economy #

China’s Factory Inflation Jumps Most in Almost 13 Years as Commodity Prices Surge

Soaring raw material prices start to feed through to consumer inflation as companies pass on higher costs


# China #

Four Things to Know About the New Covid Variants

While the rapidly mutating virus is spreading farther and faster, current vaccines, testing and control measures are still effective, experts say

# World #

In Depth: Asia’s Ruined Run of Pandemic Success

More transmissible variants, low vaccination rates have seen some places feel the heat of the pandemic for the first time

# Opinion #

Zhou Xiaochuan: The Issues Under Debate Over How China Can Go Carbon Neutral

The country accounts for almost one-third of the global carbon emissions, so it’s crucial it takes the right path to hitting its own targets

# Gallery #

Nearly 11 Million Take College Entrance Exam in China


# Weekend Long Read #

‘Lying Flat’ Is the New Resistance Movement to Materialism

In today’s society, the competition is endless and leads nowhere. Is there any more rebellious act than rejecting the rat race?

# Books & Arts #

Exhibitions in June: Unmissable Events and Exhibitions This Summer

Check out which exhibitions and events are on in Beijing and Shanghai, and plan an eventful June for yourself

# Podcast #

Biden Intensifies Investment Ban on Chinese Companies

U.S. President expands Trump-era ban, blacklisting 59 entities with alleged military links; schools nationwide must provide sex education as a part of a wider campaign to protect minors from sexual abuse; and Tiktok remains the world’s most downloaded non-gaming app

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