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The Caixin Must-Read newsletter brings you the best of our coverage over the past week, handpicked by our editors.
# Cover Story #
Clock Ticking on Country Garden’s Debt Bomb
Formerly China’s top developer in terms of sales for six consecutive years, the behemoth is now teetering on the brink of its first ever bond default
# Finance #
Caixin Explains: The Roots of Country Garden’s Debt Woes
The private property developer’s creditors are knocking just as its sales have plunged and lenders are nowhere to be found
Country Garden Seeks 40-Day Grace Period to Avert Default
Troubled Chinese property giant plans to ask holders of $540.8 million debt to vote Aug. 31 on both grace period and extension of payments
# Business #
In Depth: China’s Offshore Wind Sector Gears Up for Life After Subsidies
Even as individual firms prepare to scrap for local government contracts, analysts say the sector will continue to ride the updraft
R&F Properties Outlines Looming Debt Crisis
Though the developer’s first-half loss narrowed, the member of the ‘Five South China Tigers’ owes $6.6 billion due within a year and lacks the funds to pay up
# Economy #
Shenzhen Existing-Home Prices Fall Back to Earth
Stratospheric values plunge by nearly half from 2020 peak and are now on a par with new-housing prices amid slumping demand and developers’ liquidity crunch
Chinese Megacities Ease Mortgage Rules for First-Home Buyers
Under pressure from the central government to spur housing sales, Guangzhou and Shenzhen tinker with criteria for most-favorable down payments and mortgage rates
# Tech #
Huawei Quietly Debuts Flagship Smartphone in Effort to Ride Sales Wave
While tech giant stays mum on chipset details, online tests show the new Mate 60 Pro is equipped with a Kirin 9000s chip with a download speed rivaling 5G handsets
Li Auto’s First Pure EV to Use CATL’s Fast-Charging Batteries
The Mega MPV, slated for launch at the end of this year, will be powered by Contemporary Amperex Technology’s Qilin batteries made with its cell-to-pack technology
# China #
In Depth: Why Fewer Criminal Appeals Cases Are Getting Heard in China
Judges are choosing to skip the hearings due to rising caseloads, a shrinking pool of judges, and the wide discretionary power granted to the bench
Analysis: Foxconn Founder’s Independent Leadership Bid Complicates Taiwan Opposition Efforts
While Terry Gou says he wants to unite the opposition, his entrance makes the race a four-way contest
# World #
China Visit ‘Excellent Start’ to Resolve Trade Issues, U.S. Commerce Secretary Says
Gina Raimondo wraps up her four-day China trip that saw the establishment of new high-level dialogue channels that could reduce ‘miscalculation and unnecessary tension’
China-U.K. Thaw Continues as Top Officials Confer in Beijing
Vice President Han Zheng and Foreign Minister Wang Yi host British Foreign Secretary James Cleverly in ongoing series of interactions
# Opinion #
Anticipating a Renewed Push for ‘Citizens Suing Officials’
China’s legislature axed its review of a draft amendment for the Administrative Litigation Law, in a sign the issue needs further consideration
# Weekend Long Read #
The Challenges of Mounting a Legal Defense in China
Impediments preventing lawyers from adequately defending their clients have become alarmingly common, undermining public trust in the judicial system
# The Wall Street Journal #
Manufacturers Leaving China Find a Home With Indian Startups
India is looking to build up its factory base, and venture-capital investors are noticing
# Gallery #
Chinese Basketball Icon Calls It Quits
# Podcast #
Caixin Biz Roundup: China Bans All Japanese Aquatic Products
Chinese solar-makers face new tariffs after U.S. found they’re dodging duties, and U.S. commerce secretary to visit China next week
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