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The Caixin Must-Read newsletter brings you the best of our coverage over the past week, handpicked by our editors.
In Depth: Race Is on to Become China’s SpaceX
Chinese startup LandSpace Technology became the world’s first private company to launch a methane-liquid oxygen carrier rocket, leaping ahead of local rivals including GalaxySpace, Chang Guang Satellite and i-Space
In Depth: China Pushes Electric Future for Inland Shipping
Provinces straddling the country’s major rivers and others along the coast are offering cash incentives and subsidies to build battery-powered vessels in an effort to reduce emissions from domestic water transport
China’s Property Crisis Contagion Spreads to State-Backed Developers
Recent revelations indicate the crisis, which is stretching into its third year, is now hitting developers whose deep pockets had largely insulated them from the chaos
Exclusive: State Insurance Giant China Life Names New Chief
Top actuary Li Mingguang becomes Communist Party head and is set to succeed Zhao Peng as president
Chart of the Day: China’s Personal Mortgages Post First Decline in a Decade
Policymakers are becoming increasingly worried about economic growth after recent data showed real estate investment shrank at a faster pace and housing sales plunged
Alibaba Cloud Brings Meta’s Next-Gen AI Model to Mainland
The e-commerce giant’s cloud unit said it is the first Chinese mainland-based firm to offer the Facebook parent’s new Llama 2 series
China Broadens Program Bringing Local Debt Out of Hiding
More local authorities can put hidden debt on the public books in a test of converting dodgy financing into formal government bonds
Half of China’s Provinces Fall Behind the National Economy
Of 28 jurisdictions reporting first six-months GDP, 15 miss the national average of 5.5% growth, largely reflecting the real estate slump and slack manufacturing demand
In Depth: The Budding Market for Microscopic Organ Testing
‘Organoid-on-a-chip’ has already been used to evaluate Covid vaccine efficacy in China, but a lack of regulation means the uptake of the niche technology is lagging behind the West
North China City Pleads for Emergency Aid After Flood
In Zhuozhou, home to 660,000 in Hebei province, more than 125,000 people had been relocated as of early Tuesday, officials say
Floods in North China Claim 20 Lives as Torrential Rain Cuts Power, Communications
As of Tuesday, the death toll of the floods in Beijing has climbed to 11, while nine dead in the neighboring Hebei province after days of downpours in the region
Blog: Why Flooding Has Become So Common in Chinese Cities
Urban planners have allowed ever-growing expanses of concrete while neglecting wetlands and other features that could help absorb rainwater and runoff
Interview With Indonesian President Joko Widodo: A Unifying ‘Outsider’
The leader describes his primary political philosophy as ‘work, work, and work’ — with priorities on building trust, coming up with a tactical vision, and having the courage to make and execute decisions
Editorial: How to Best Understand an Economic Recovery’s Ups and Downs
Private sector economics forms the backbone of the ongoing recovery. How well these companies do serves as the ultimate yardstick in measuring policy effectiveness
The Main Obstacles to China’s Chatbot Infrastructure
The country has an immense supply of computing power, but issues like high latency and interoperability make it hard to harness for the large language models behind AI projects like ChatGPT
Fitch Downgrades U.S. Credit Rating
The ratings agency said that the downgrade reflects an ‘erosion of governance’ By Matt Grossman and Andrew Duehren
China-Founded Rivals Shein and Temu Ramp Up War for American Shoppers
The online sellers are fighting in U.S. courts, alleging dirty tricks as they duel for workers and suppliers back in China
Why Elon Musk’s Plan for a Super App Won’t Be Easy in America
The X owner has set an ambitious deadline for allowing users to ‘conduct your entire financial world’ on the platform
Caixin China Biz Roundup: Indonesia Plans Curbs in Threat to TikTok’s E-Commerce
BlackRock’s former China head joins Citadel Securities, and Renault directors bail on struggling China EV venture
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