Jan 13, 2023 01:51 PM

Weekly Must-Read: China Wraps Up Two-Year Tech Crackdown

Guo Shuqing
Guo Shuqing

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

# Business #

Alibaba Signs Cooperation Agreement With Hangzhou Government

Eastern China headquarters city vows support for e-commerce giant, which promises aid in developing a digital metropolis while bolstering the local economy

China Wraps Up Two-Year Tech Crackdown, Top Official Says

Central bank and banking regulator’s Guo Shuqing sends first signal that sector led by Alibaba, Tencent, Didi and Meituan may finally be off the hook

Chinese Billionaire Jack Ma to Cede Control of Ant Group

# Cover Story #

China’s International Air Travel Resumes, But Covid Turbulence to Delay Takeoff

Airlines are struggling with understaffing and a new strain of the virus threatens to slow recovery in what was the world’s largest outbound travel market

# Finance #

In Depth: Behind the Massive Sell-Off in Chinese Wealth Management Products

Following China’s easing of Covid controls, a slump in the bond market has led to plunging values of WMPs, stoking panic among retail investors

Chinese Developers Face $141 Billion Wall of Maturing Bonds in 2023

Default risks remain despite government measures to ease financing pressure, property consultant warns

# Tech #

New Device’s OS Shows How China’s Tech Firms Guard Against Foreign Sanctions

Fyde Innovations’ hybrid tablet/laptop runs an operating system that isn’t built on technology vulnerable to restrictions imposed by governments abroad

# Economy #

Local Governments Set to Borrow $146 Billion in First Quarter

As Beijing urges more spending to bolster the economy, 18 provinces and municipalities prepare regular and special purpose bond sales

# China #

North China Gas Shortages Leave Villagers Shivering

Downstream distributors in parts of Hebei province failed to secure ample supplies, with residents saying they are unable to heat their homes and cook

Analysis: China’s Limits on Dispensing Pfizer’s Paxlovid Could Delay Treatment

Limited supplies of the highly sought-after antiviral drug used to treat Covid has prompted tough restrictions to be imposed on buyers, raising concerns that those in urgent need could face delays

Pfizer’s Paxlovid to Be Dropped From National Subsidy Scheme as Talks Collapse

# World #

Caixin Explains: Why Countries Are Putting Curbs on Travelers From China

On Tuesday, the Chinese embassies in Japan and South Korea retaliated against both countries by suspending visa issuance. This is the first time Beijing has pushed back against these restrictions, some of which have been in place since late December

# Editorial #

Take International Rules Seriously

China will boost institutional opening-up, further enhance national awareness of rules and the spirit of the contract, and continue to optimize the business environment

# Weekend Long Read #

Covid Is Rife at China’s Colleges. Exams Are Going Ahead Anyway

For months, China’s students have prepared under harsh ‘zero-Covid’ restrictions. Now, many have to take crucial tests while infected with the virus

# Gallery #

Gallery: China’s Exit-Entry Offices Get Busy


# Podcast #

Caixin Biz Roundup: China Wraps Up Two-Year Tech Crackdown

Official signals end to clampdown, Jack Ma to give up control of Ant Group, Tesla makes second round of price cuts in three months in China

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