Sep 02, 2021 06:23 PM

Weekly Must-Read: The Herculean Task of Bailing Out Huarong

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

# Cover Story #

The Herculean Task of Bailing Out Huarong

As the scandal-plagued bad asset manager reports $15.9 billion of red ink for 2020, it may have to raise almost that much from investors and asset sales


Ling Huawei: Huarong Is Nowhere Near Defaulting on Offshore Bonds

# Business #

ByteDance Workers Take a 20% Pay Hit as Sunday Overtime Ends

While tech giants are under government pressure to ease grueling work schedules, employees worry they’ll be stuck with the same workload for less income

In Depth: Plight of China’s Gig Workers Poses Policymaking Dilemma

The government is walking a fine line between improving working conditions while minimizing the impact of added costs on an industry that employs millions

Exclusive: China’s Fosun Pharma Borrows $300 Million for Covid Vaccines

Loans from Asian Infrastructure Investment Bank and International Finance Corp. will fund expanded mRNA vaccine output and distribution


China Plans to Use BioNTech Vaccine as Booster Shot, Sources Say

# Finance #

Ping An Fintech Unit Denies Offering Bribes to Officials

OneConnect Financial’s shares tumbled after anonymous online report also alleged it had overstated business performance

# Tech #

China Hammers Mobile Gaming Industry With Tough New Limits

Tencent, Bilibili and rivals can’t let kids under 18 play more than three hours on weekends and never on school nights under new rules

# Economy #

Covid Flare-Ups Drag Down China’s Manufacturing Sector, Caixin PMI Shows

Lowest index since February 2020 reflects disruption Covid-19 continues to have on economy

# Research & Analysis #

Oxford Analytica: Jerome Powell’s Future as U.S. Fed Chair Is Under Review

The White House is considering whether to give Jerome Powell a second four-year term as chair of the Federal Reserve

# Opinion #

Analysis: How Should China Adjust Its Energy Mix to Meet Carbon Reduction Goals?

The key is ending ‘campaign-style carbon emission reduction’ and looking to long-term solutions

Wang Tao: What Does ‘Common Prosperity’ Mean for China’s Policies and Economy?

Reforms expected to support household income growth, increase public services, expand social welfare, adjust income distribution and encourage corporations to play a bigger role in help everyone prosper

# China #

It’s Illegal to Make Employees Work 12 Hours a Day, Six Days a Week, Top Court Says

Joint notice with Ministry of Human Resources and Social Security blasts ‘996’ overtime policies, highlighting 10 examples of employer disputes to remind workers of their rights

In Depth: How China Won Its 70-Year Battle With Malaria

While better treatments and improved sanitation were key to reducing the impact of the disease, it was a campaign of rapid, targeted measures that led to its elimination

# Gallery #

Stunning Views of Earth From Shenzhou-12


# Weekend Long Read #

Talking Out the Implications of China’s Great Demographic Reversal

A discussion between two central government officials and the authors of a new book on the domestic economy offers a glimpse into how officials view the country’s demographic challenges

# Podcast #

‘996’ Work Schedule Is Illegal, Rules Top Court

Court says the controversial practice is a serious violation of China’s labor law; SenseTime files for a Hong Kong IPO; and education ministry bans Covid vaccination mandates for students


Pinduoduo Reports Second Worker Death as Overwork Debate Rages On

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