Caixin Global
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In Profile: From the factory floor to the helm of a listed biotech firm, Guo Henghua was a celebrated entrepreneur. But a decade-old foray into China’s ill-fated microfinance craze has put her in handcuffs.
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China’s economic performance likely remained uneven in July, with industrial production and fixed-asset investment expected to have weakened while retail sales and exports maintained growth, a Caixin survey showed.
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Take a moment to catch up with Caixin’s top stories:
- Exclusive: Beijing widens tax net to offshore insurance
- China hunts for a new auto engine
- AI floods the games market, but original hits remain scarce
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Today in Caixin’s Business Brief:
- China announces trade countermeasures against the U.S.
- Moonshot AI seeks $50 billion valuation in new funding round
- Unitree Robotics eyes IPO with 42 billion yuan valuation
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Shares of Chinese AI specialist MiniMax surged Thursday after the company was added to a program linking Hong Kong and Chinese mainland stock markets.
The onshore yuan strengthened past 6.75 per U.S. dollar on Thursday, reaching its highest level in three and a half years, supported by shifting U.S. monetary policy expectations and robust Chinese exports.
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Import-reliant nations in Southeast Asia are rolling out emergency decrees and rushing to subsidize rooftop solar panels as conflict in the Middle East continues to drive up the price of fossil fuels.
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In Depth: Zhang Xinming, a controversial tycoon once known as the wealthiest man in China’s coal-rich Shanxi province, has been transferred for prosecution. He faces 17 charges, including leading a mafia-like organization and operating casinos.
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In Depth: With China’s aging population, a new wave of “silver economy” scams is rising. This is the story of how one company used free tourism, fake wealth management products, and emotional manipulation to run a decade-long financial fraud.
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Exclusive: Chinese very large crude carriers have resumed transporting Saudi oil after a weeklong pause, now using Egypt as a transfer point and rerouting around Africa as Red Sea security risks force a costly overhaul of one of Asia’s key supply routes.
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Chinese AI startups are bringing highly anticipated world models to China’s 680 million gamers. From instant 3D asset generation to endless interactive storylines, developers are racing to build a new era of AI-native video games
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General Motors and SAIC Motor have extended their Chinese joint venture by 20 years to 2047. The partners plan to launch 30 new-energy vehicles by 2030 and ramp up exports, while Chevrolet is expected to halt domestic sales
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An active-duty Japanese military officer who stormed the Chinese Embassy in Tokyo with a knife expressed regret in court on Wednesday, claiming he wanted to pressure Beijing into altering its diplomatic stance
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China’s sustainable aviation fuel sector is rapidly expanding, driven by new state-backed projects, a shift that could trigger global shortages of used cooking oil and disrupt Europe’s aviation emissions goals
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Unitree Robotics has launched its IPO price inquiry on the STAR Market. The listing serves as a crucial reality check for China’s hyped embodied AI sector, where mass commercialization remains years away
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Today in Caixin’s Business Brief:
- Beijing issues mandatory national safety standards for autonomous driving
- Consumer electronics prices rise on memory chip shortage, surging raw material costs
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Multinational drugmakers are returning to China’s centralized procurement program after rule changes gave originator medicines a second path to selection, though stronger price pressure still looms.
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China is the first country to approve a breakthrough narcolepsy drug from Japan’s Takeda Pharmaceutical, underscoring how Beijing’s regulatory overhaul is prompting global drugmakers to debut new therapies in the country ahead of the U.S. and Europe.
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The Chinese owner of a liquefied-natural-gas carrier could face insurance payout complications after the $120 million vessel was hit while transiting the Strait of Hormuz with its tracking system switched off.
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Chinese robotics startup Unitree Robotics is set to launch its IPO next week, backed by a star-studded roster of tech heavyweights and state funds, though drone-maker DJI notably missed out on the opportunity.
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