Jun 18, 2021 12:35 PM

Weekly Must-Read: FBI Agent Admits in Court to Falsely Accusing Ex-Professor of Spying for China

# World #

FBI Agent Admits in Court to Falsely Accusing Ex-Professor of Spying for China

The agent said that he presented the university with a false document that labeled the Chinese American man as a PLA operative

# Cover Story #

China Pushes Hydrogen Energy to Achieve Carbon Goals

Seeking technological breakthroughs for fuel cells, China alters incentives in quest to make zero-carbon green hydrogen cost-competitive

# Business & Tech #

Huawei Quietly Powers Up Chipmaking Investments

Sanction-hobbled telecoms giant’s Hubble Technology has invested in 28 chip technology firms, including its latest stake in a maker of high-power lasers

Fosun Expects to Start China Production of BioNTech Shot in August

Advanced mRNA vaccine for Covid-19 nears completion of regulatory reviews as drugmakers start preparing Shanghai factory

# Energy Insider #

Gas Gets Cheaper With Pricing Mechanism Changes

Shanghai to roll out 5,000 fuel cell vehicles in four years; Zhejiang province braces for rising power demand; Ningxia plans $250 million wind project

# Finance #

Exclusive: Embattled Huarong to Sell Multibillion-Dollar Assets as Rescue Plan Gets Underway

China’s biggest bad-debt manager is offloading non-core assets as it struggles to repay its own mountain of loans

# Daily Chart #

Hong Kong’s New Virtual Banks Bled Cash Last Year

Big spending, high deposit rates to attract customers, plus the pandemic, saw the eight lenders rack up $309 million in losses

COTD Vritual chart-1

# China #

In Depth: Perverse Incentives Plague Environmental Impact Reporting in China

Changes in a 2018 law created a shortage of licensed environmental assessment engineers, encouraging some companies to make a business out of renting out their qualifications

# Opinion #

Editorial: How to Break Local Governments’ Addiction to Land Sales Revenue

It is necessary to accelerate fiscal and taxation reform, straighten out the fiscal relationship between levels of government, and regulate tax revenue while ensuring that local governments have the wherewithal to build their economies and provides services to the people

# Gallery #

Gallery: 2,000 Join Rescue Work at Site of Deadly Gas Blast


# Weekend Long Read #

What We Can Learn From This Year’s Gaokao Essay Topics

The writing portion of the most important test for tens of millions of Chinese high school students acts as a mirror, reflecting social trends back to the public

# Video #

The Gaokao Exam Under the Pandemic: Volunteer Drivers in Guangzhou (Free)

After fighting the new wave of Covid-19 pandemic for over a fortnight, the city of Guangzhou faced the challenge of "gaokao," China's annual National College Entrance Examination.

# Podcast #

China Hits Back at G-7 Statement

Beijing's embassy in London denounces summit and slams communique for ‘slandering’ China and interfering in its domestic affairs; Didi reveals plans to go public in the U.S.; and Fosun expects to start producing BioNTech jab in China later this summer

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