The Caixin Must-Read newsletter brings you the best of our coverage over the past week, handpicked by our editors. Enjoy!
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# Cover Story #
China Charts Course for Future Growth with Major Reforms at Key Meeting
The Communist Party of China Central Committee’s Third Plenum highlighted the importance of the rule of law, financial independence for local governments and creating a new model for the beleaguered real estate industry
# Finance #
Caixin Explains: Why and How China’s Overhauling Monetary Policy (Part 1)
In part one of this three-part series, we explain why the PBOC is moving away from quantitative targets to a policy framework driven by interest rates
# Business #
In Depth: ‘Exorbitant’ Fines Land Temu in Hot Water With Chinese Merchants
Hundreds gathered outside Temu’s Guangzhou offices to voice anger at the platform’s increasing levying of penalties for product defects without providing evidence
Politburo Pledge to Curb ‘Vicious Competition’ Sparks Hope Auto Price War Will End
China’s carmakers have been competing intensely since the start of 2023, when sales growth began to slow
# News Graphics #
China’s Manufacturing Shrinks for First Time in Nine Months as Demand Falls, Caixin PMI Shows
Independent snapshot of the sector came in at 49.8 in July, down from a three-year high reached the previous month
# Tech #
China’s Kuaishou Looks to Cash In on AI-Powered Video Generation
The short-video specialist has started charging users to subscribe to its text-to-video generator Kling as Chinese tech companies try to catch up to OpenAI’s Sora
# China #
China’s Digital ID Proposal Sparks Debate About Privacy and Security
Public security ministry and national internet regulator introduce system that aims to cut down on the personal information that internet platforms can collect from their user
# World #
China Supports Russia-Ukraine Peace Talks, but Conditions Aren’t Yet ‘Ripe,’ Beijing Says
Foreign Minister Wang Yi made the comments during Ukrainian counterpart’s first visit to the country since invasion began
# Opinion #
Take a Problem-Oriented Approach to Deepen Comprehensive Reform
Coordinated progress must be made in fiscal and financial reform to improve the macroeconomic governance system
# Economy #
China’s Macro Leverage Ratio Edges Up to Fresh Record
Growth in the government’s leverage ratio in the second quarter outpaced that of the household and business sectors, where borrowing was weak
Politburo Promises New Measures to Tackle Local Debt Risks and Clear Economic Hurdles
Leaders call for powerful macro policies to boost consumption and expand domestic spending
# Weekend Long Read #
How Investors Should Respond to China’s Third Plenum
This year’s key economic policy-setting meeting follows the path laid out in the plenary session from 10 years ago, though it produced a plan with more details and specific goals
# Gallery #
# Podcast #
Caixin Biz Roundup: China’s E-Commerce Titans Are Squeezing Global Rivals
Global beauty giants smell opportunity in China’s fragrance-makers, Aion opens its first overseas EV plant in Thailand
