Caixin
Sep 13, 2021 09:00 PM
CHINA

Blackstone Drops Bid to Buy Developer Soho, Xiaomi Blocks Smuggled Smartphones Abroad, Japan to Carry Out First Large-Scale Military Drills in 28 Years

Here is today’s ranking of the 10 most-read news stories in China, in economics, finance and current affairs, to help give you a sense of what’s trending in the Chinese language sphere.

Chinese social media users have been paying close attention to the latest Covid-19 outbreak in the eastern province of Fujian that has infected more than 70 people. They are also following the news that private equity giant Blackstone officially ended its bid to purchase property developer Soho China.

1. China’s broadcaster regulator calls for resistance against ‘deformed’ fandom culture

The National Radio and Television Administration said in a Friday statement that online agencies offering video and audio program services should “consciously” assume their media and social responsibilities and resist “deformed” fandom culture (external source, in Chinese) that focuses on celebrities’ status and appearance.

2. Fujian reports more than 70 local infections in latest Covid outbreak

The latest Covid-19 outbreak in East China’s Fujian province has infected more than 70 residents, including many elementary school students. The outbreak was first detected on Friday when six people tested positive for the virus.

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Photo: VCG

3. Thailand’s economy slumps as tourism slows to a trickle

Tourism has come to a virtual standstill in Thailand due to strict travel restrictions worldwide to curb the Covid-19 pandemic, according to Chinese state-run broadcaster CCTV. This is one reason that growth in the local economy has fallen to its lowest level (external source, in Chinese) in more than 20 years, CCTV reported.

4. Japan gives up hosting the 2021 FIFA Club World Cup due to Covid-19 pandemic

The Japan Football Association decided Thursday to give up hosting the 2021 FIFA Club World Cup (external source, in Chinese) due to the Covid-19 situation in the country, local media reported. World soccer’s governing body will consider a new venue for the annual tournament scheduled for later this year.

5. Xiaomi stops its smartphones being smuggled to six countries and regions

Chinese handset marker Xiaomi Corp. started Friday overseeing smartphone sales abroad to prevent them being smuggled to six countries and regions including Cuba and Iran, according to XDA developers, an overseas mobile phone development community. Xiaomi’s export policy prohibits its devices from being sold (external source) in these regions, XDA said.

6. Blackstone drops $3 billion bid to buy Chinese developer Soho after progress hits a wall

The New York-based private equity giant Blackstone Group Inc. has officially ended its bid to purchase office developer Soho China Ltd. due to “the lack of sufficient progress in satisfying the pre-conditions,” according to a joint exchange filing by the two companies on Friday.

7. Japan to carry out first large-scale military drill in 28 years

The Japan Ground Self-Defense Force announced Thursday that a large-scale military drill involving about 100,000 soldiers (external source, in Chinese) will be carried out from Sept. 15, the first time in 28 years, local media reported. The exercise will take place on the island of Kyushu.

8. Ukrainian president reportedly says all-out war with Russia is possible

Ukrainian President Volodymyr Zelensky said Friday during the Yalta European Strategy summit that although all-out war with neighboring Russia is “the worst thing that could happen,” the possibility cannot be ruled out (external source), Reuters reported.

9. Fujian Covid outbreak expected to be contained before October, experts say

The latest Covid-19 outbreak in East China’s Fujian province is expected to be brought under control before the upcoming weeklong National Day holiday (external source, in Chinese), experts dispatched to Fujian by the National Health Commission said.

10. Shares of Soho China drops up to 40% as Blackstone ends its bid

The Hong Kong-listed property developer Soho China Ltd. saw its shares fall as much as 40% on Monday after the New York-based private equity giant Blackstone Group Inc. dropped its $3 billion takeover deal.

Translated by reporters Wang Xintong and Cai Xuejiao.

Caixin has not independently verified the veracity or accuracy of all of the headlines or stories.

The daily ranking of most-read news stories among Chinese people, about China and global affairs, is jointly provided to you by Caixin Insight and HANA Data, an artificial intelligence technology team.

The key indicators calculated on the list are based on mass data sourced from China’s mainstream social media platforms and online news websites. Click here for a detailed introduction of our methodology.

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