Feb 24, 2023 11:12 AM

Weekly Must-Read: Billionaire Founder of China Renaissance Goes Missing

Photo: VCG
Photo: VCG

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

# Finance #

Exclusive: Billionaire Founder of China Renaissance Goes Missing

China Renaissance reports being unable to make contact with its billionaire founder and chairman months after authorities took President Cong Lin into custody

In Depth: Hiring of ICBC Veteran Looms Over Disappearance of China Renaissance Founder

Bao Fan’s disappearance is likely linked to that of former company executive Cong Lin in September, whom the investment bank poached from the state-owned lender in 2020, sources say

# Cover Story #

One Year Into Russia-Ukraine War and Still No End in Sight

The war has sparked an energy crisis in Europe, driven up global inflation and triggered a world-wide grain shortage

# Business #

In Depth: Japanese, German Carmakers Lose Ground in China After Falling Behind on EVs

The likes of Nissan and VW have lost market share as Chinese competitors capitalized on their early jump into the segment

China Doesn’t Have an EV Production Glut, Ex-Minister Says

Miao Wei, former industry minister, says there’s plenty of demand to meet a potential overhang

CATL Offering Steep Discounts to Automakers in Quid Pro Quo Deal, Source Says

The world’s largest electric-vehicle battery producer is said to be asking its customers to buy 80% of their batteries from it alone

# Economy #

Chinese Provinces Plan to Ask Developers Not to Sell Homes Until They Are Built

Pilot programs to kick off in Henan, Shandong, Anhui and Sichuan amid industrywide liquidity crunch

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# Tech #

BYD’s New Budget Model Flies Out the Door as Sales Close In on Tesla

The Shenzhen-based electric automaker sold more of the Qin Plus DM-i Champion Edition in the first five days after launch than Tesla’s entire vehicle line in China in January

# Chart of the Week #

Private Sector’s Shrinking Share of China’s Top Stocks

Privately owned firms’ contribution to the total market cap declined during the government crackdown on new economy sectors, falling from a 55.4% peak in mid-2021 to 42.8% at the end of December


# China #

Xi Says China Must Boost Consumer Spending, Foreign Investment This Year

The president stresses the importance of consumption in bolstering the economy at a key annual meeting to set the economic policy agenda for 2023

# World #

Q&A: Malaysia’s New Trade Minister Explains Why China Matters to Southeast Asia

In an exclusive interview, Tengku Zafrul Aziz shares his thoughts on the importance of globalization and why emerging markets’ voices ought to be heard

# Opinion #

Chinese Households’ Financial Dilemma Is a Problem for the Economy

A surge in savings and a race to reduce liabilities have thrown the post-Covid recovery into further disarray

year while other products stagnated

# Weekend Long Read #

The Safest and Most Endangered Jobs in a ChatGPT World

AI will replace simple, repetitive jobs, but those involving complexity, creativity and interpersonal skills will continue to thrive and remain the domain of humans

# Gallery #

Gallery: Aftershocks Rock Turkey


# Podcast #

Hong Kong Plans to Let Retail Investors Trade Crypto

Prominent investment banker Bao Fan’s disappearance spooks China’s corporate scene, Hong Kong debuts $102 million digital green bond, and CATL offers automakers steep discounts in quid pro quo deal

Caixin Global’s Top Stories of the Month newsletter brings you the most popular news coverage over the past month. You may opt in now and get handpicked news coverage delivered to your inbox each month for free.

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