Mar 03, 2023 01:30 PM

Weekly Must-Read: Why China’s Lithium Firms Have Their Sights Set on Bolivia

Photo: VCG
Photo: VCG

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

# Business #

In Depth: Why China’s Lithium Firms Have Their Sights Set on Bolivia

The South American country has the world’s largest reserves of the key EV battery raw material, but political and practical obstacles have prevented it from becoming a significant global supplier

Lithium Prices Tumble to 12-Month Lows

The average spot price of lithium carbonate hit 392,500 yuan per ton on Friday, down 23.1% year-to-date and 31% from its record high in November

In Depth: Why Is Chip Giant TSMC Investing in the U.S. When It Doesn’t Need to?

The project is one of a handful of international investments the Taiwan firm is pursuing as it seeks to diversify production in a business that is becoming increasingly less globalized

How a Global Shortage Turned Into a Shipping Container Glut

Amid pandemic disruptions, China’s dominant container-making industry dialed up production only to create vast piles of empties at ports as demand suddenly dried up

# Cover Story #

China’s Tax System Gets a Digital Upgrade

The rollout of the so-called Golden Tax System Phase IV is slated for this year and will see greater scrutiny of tax dodgers

# Finance #

How China’s Investment Funds Fared in 2022

The country’s mutual funds navigated a tumultuous year, with AUM hitting a record $4 trillion while the rate of return averaged a negative 8.5%

‘Big Four’ Accounting Firms Still Favored by Some China State Firms

Recent announcements from China Taiping Insurance and PICC show continued use of the auditors

Investment Banker Bao Fan Is Aiding an Investigation, China Renaissance Says

Beijing-based investment bank reports on billionaire founder and chairman’s status more than a week after he went missing

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

# Economy #

In Depth: China Grapples With Fiscal Overhaul as Budgets Come Under Pressure

Poor management, inefficiency, and a narrow tax base are some of the issues Finance Minister Liu Kun has pledged to address

Yuan Popularity Grows as Go-To Currency for International Settlements With China

The redback was used to settle 42.1 trillion yuan worth of the country’s cross-border payments and receipts last year


# Tech #

China Issues New Rules to Stamp Out Deceptive App Features

The measures aim to clean up practices including installing programs without a user’s consent and renewing subscriptions without their knowledge

# China #

Yunnan Whacks Power Supply for Aluminum Again

Second round of cuts in six months for electricity-hungry key metal will slash total output by 1.9 million tons as dry season saps hydropower

# World #

China’s Climate Envoy Receives Nobel Sustainability Award

Xie Zhenhua gets recognized for his efforts in tackling climate change and building global cooperation in the field

# Opinion #

How to Be Problem-Oriented in Institutional Reform

Reforms of governmental institutions should take into account of current economic challenges, such as shrinking demand, supply shocks and weakening expectations, and be driven by efficiency concerns and common values, including peace, development, equity, justice, democracy and freedom

# Weekend Long Read #

How China’s Military Gearheads Are Driving a New Trend in Toys

Model manufacturers have begun launching hyperrealistic Lego-style models based on Chinese weapon systems, hoping to attract a new breed of patriotic young hobbyists

# Gallery #

Gallery: Ukraine War’s Smallest Victims


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