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China Business Digest: Regulator Piles Penalties on Luckin Coffee; Biotech Firm Raided for Alleged Import and Export Violations

ZTO Express prices HK shares at discount to NY closing price; hotelier Huazhu targeted by short seller alleging overstatement of profit as HK shares debut

U.S.-China Shipping Rates Move Into Calmer Waters

After a sharp spike to record highs over the past three months, prices are now cooling following government action and the reintroduction of idled capacity

Lessons From Hong Kong’s Covid-19 Superspreading Events

Researchers find that 19% of cases account for 80% of virus transmissions, and more than half of infections are linked to disease clusters, according University of Hong Kong paper

Short Seller Accuses Huazhu of Inflating Profits by $295 Million

One of China’s biggest hotel chains underreported the number of hotels it owns and associated costs for 2019, according to findings published by Bonitas Research

Genscript Biotech Offices Raided and Chairman Detained

Developer of first quick-test kit for Covid-19 virus may be ensnared in crackdown on use and export of human genetic materials, sources say

Sep 23, 2020 04:33 AM

Global Financial Giants Battle to Recruit China Bankers in Talent War

After opening of China’s financial sector, Goldman, UBS, JPMorgan, Nomura join the hunt for at least 1,000 top professionals to fill expanding offices

Sep 23, 2020 04:27 AM

New-Energy Vehicle Maker Raises $1.47 Billion Ahead of Rumored IPO

The round for WM Motor, thought to be the biggest ever for a Chinese electric car firm, was led by state-owned SAIC Motor and included a hodgepodge of state-backed funds

Sep 22, 2020 08:42 PM

Zhang Wenhong: Second Virus Wave 'Inevitable' in China This Winter

China remains at risk from imported cases and it will take about a year to get the population vaccinated

Sep 22, 2020 08:29 PM

HSBC Stock Pummelled by Financial Crimes Report, China ‘Unreliable Entity’ List

Hong Kong shares drop to lowest since 2009 as investors fret about potential fallout of leaked documents from U.S. regulators

Sep 22, 2020 08:28 PM

Youth-Focused Budget Cosmetics Brand Eyes U.S. IPO

Perfect Diary was China’s No. 2 cosmetics-maker last September with a 2.7% market share

Sep 22, 2020 07:58 PM

China’s Market Regulator Piles Penalties on Luckin Coffee Over Fraud Scandal

Authority hits two companies owned by Luckin and 43 others with a total of $9 million in fines for violating the country’s fair competition law

Sep 22, 2020 07:50 PM

Caixin China Biz Roundup: Bytedance’s Bold Plans for Tiktok Global

In today’s episode: Tiktok’s parent plans to keep majority ownership of the new company while U.S. executives will control its board; market regulator orders e-commerce and food delivery giants to crack down on illegal sales in a bid to protect the Yangtze River’s biodiversity; and China’s aviation authorities suspend Shanghai-Manila flight route that brought in Covid-19 from overseas

Sep 22, 2020 06:40 PM

Gallery: Shrinking Your Green Footprint for the Day

On World Car-Free Day, celebrated every Sept. 22, people from all over the world are encouraged to take a non-motorized form of transportation to work or school. The event can sometimes clear the roads of vehicles, allowing locals to participate in activities relevant to the day

Sep 22, 2020 06:08 PM

The Caixin-Sinica Business Brief: Wechat’s Fate in U.S. Remains Uncertain

Plus, Washington further tightens the screws on Huawei; and the makeup of the board of TikTok Global

Sep 22, 2020 05:28 PM
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