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Caixin Media

04.18.16

Chinese Electric Vehicle Manufacturer BYD’s Image Hurt by Scandal Involving Dealer’s Suicide

China’s largest electric vehicle manufacturer, BYD Auto Co., is under intense scrutiny following the death of a Nanjing auto dealer who accused the company of bilking a government subsidy program and a Caixin probe suggesting the charge may have...

Caixin Media

04.12.16

Chinese Telecoms Gear Maker ZTE Fighting U.S. Export Ban

The second-largest maker of telecoms gear in China is scrambling to get off a U.S. export blacklist that threatens to dry up supplies of critical components.“The investigations are still in progress, and may result in criminal and civil liabilities...

Caixin Media

04.05.16

No Point in Ramping Up Personal Debt to Help Property Market

Having banks and local governments deleverage and trim overcapacity are part and parcel with central government efforts to maintain stable growth by nurturing the supply side of the economy. But even as this is happening, the housing market has been...

Caixin Media

04.01.16

China’s Rural Youngsters Drop Out of School at Alarming Rate

Like many other teenagers in his village in the mountains of the northwestern province of Shaanxi, Chen Youliang decided to quit school early so he could follow in the footsteps of his migrant worker parents and find a job in a big city.Chen, who...

Caixin Media

03.23.16

Fall of Shanghai’s Utilities Chief Unravels Web of Corruption

A graft probe into the head of a state-run utilities firm in Shanghai put investigators on the trail of two top local government officials, people with knowledge of the matter say.Feng Jun, the former general manager of State Grid Shanghai Electric...

Caixin Media

03.11.16

With GE Deal, Haier Fulfills an American Dream

A U.S.$5.4 billion deal for General Electric’s home appliance division is about to propel China’s largest appliance maker, Haier Group, into the long-dreamed-for high-end market in America.The sale, announced in mid-January but now awaiting...

Caixin Media

02.29.16

Former Energy Official Says Police Tortured Him into Confessing

A former deputy director of National Energy Administration (NEA) on trial for taking bribes has pleaded not guilty because he says the charges are based on a false confession that was extracted via torture and intimidation, according to a person who...

Caixin Media

02.24.16

Regulators Leave Wealth Management Industry Unplugged

Financial market supervisors admit that gaping holes pockmark the regulatory fences they’ve built in recent years to control the wealth management industry and protect its investors.By occasionally introducing new rules and regulations, supervisors...

Caixin Media

02.19.16

Central Bank Governor on Reforming the Exchange Rate, Adopting a Digital Currency

Recently Zhou Xiaochuan, Governor of the People’s Bank of China (PBOC), China’s central bank, had an interview with Caixin and talked about the yuan exchange rate regime reform, macro-prudential policy framework, digital currency, and other topics...

Caixin Media

02.01.16

Tough Times call for Tougher Reform Push

Beijing has has done a good job in terms of industrializing the country but will face unprecedented challenges when dealing with a service-driven economy.

Caixin Media

01.26.16

How Serial Killers Terrorized China’s Disorganized Elder Care Industry

The 45-year-old caregiver was calm on the witness stand, but her words were jarring. He Tiandai admitted during her murder trial that she killed a 70-year-old woman she cared for by poisoning her soup with sleeping pills and pesticide, injecting her...

Caixin Media

01.19.16

Why China Doesn’t Publish Fatal Train Crash Data

Disputes between the two agencies running the trains in China over how to classify and publish details on fatal railroad incidents has kept reports on some fatal accidents last year from surfacing, people close to the matter say. Several employees...

Caixin Media

01.04.16

How a Beijing Traffic Cop Lined His Pockets

After rising from beat cop to Beijing traffic manager, Song Jianguo used his position to trade favors for nearly 24 million yuan in cash and gold

Caixin Media

12.14.15

Lack of Clear Policy Direction on Two-Child Rule Leaves Nation Guessing

Regional family-planning officials say the lack of clarity on when the new two-child rule will come into effect has put them in legal limbo, unable to issue birth permits to couples who conceive a second child before the new policy kicks in, leading...

Caixin Media

12.09.15

Progress for NGOs Battling Polluters in Court

Two environmental groups have become the first non-governmental organizations (NGOs) in China to win a lawsuit that champions nationwide battles against polluters on behalf of the public. A court in Nanping, a city in the southeastern province of...

Caixin Media

12.02.15

Zhang Zhixin: The Woman who Took on the ‘Gang of Four’

Sheila Melvin
Next year marks the 50th anniversary of the start of the Cultural Revolution (1966-1976). The desire not to dwell on that tumultuous decade, after half a century has passed, is understandable, but the failure to reflect on its impact, offer a full...

Caixin Media

11.24.15

China Eyes More Muscle for Market Supervision

Strengthening the People’s Bank of China’s regulatory clout is high on a list of suggestions for improving financial market oversight following last summer’s stock market crash.As supporters of the plan see it, no government institution is in a...

Caixin Media

11.18.15

Government Enlists NGOs to Help Homeless

Drivers roll up car windows as an autumn wind chills a traffic-clogged overpass in western Beijing’s Liuliqiao area. And under the concrete overpass, homeless people are gathering for a chilly night’s rest after wandering city streets.Among the...

Caixin Media

11.10.15

Mao’s ‘Proud Poplar’: Yang Kaihui

Sheila Melvin
Yang Kaihui—who was killed 85 years ago this month—was the first of Mao Zedong’s three freely chosen wives. (Mao was forced by his parents to wed an older neighbor when he was just 14 but did not consider this a true marriage.) Yang’s dramatic, and...

Caixin Media

10.27.15

Does the Punishment Fit the Corruption?

After Chen Bokui, the deputy head of a government advisory body in the central province of Hubei, was convicted of taking 2.8 million yuan in bribes by a court in the eastern province of Fujian in April, he received a somewhat stiff sentence—17...

Caixin Media

10.23.15

Hemingway's Literary Escape

Sheila Melvin
One noonday in 2002, a friendly acquaintance of mine—I’ll call him Q—left his office in a Beijing concert hall to go to lunch and never returned. After a series of inquiries, his wife and colleagues learned that he had been arrested. Various charges...

Caixin Media

10.20.15

Moving 2 Million People for Beijing’s Urban Reset

Nearly 2 million Beijing residents will be moved to the city’s outlying districts from the center by 2020 as part of a massive urban revamp designed to better control people, traffic, and smog.The movers include up to 1 million government workers...

Caixin Media

10.13.15

Insider Trading Is Hindering Development of Stock Market

A series of investigations into apparent market violations emerged after the recent stock market turmoil, bringing down Zhang Yujun, an assistant chairman at the China Securities Regulatory Commission (CSRC); Cheng Boming, general manager of CITIC...

Caixin Media

10.06.15

Authorities Should Do More to Protect China’s Lawyers

A Communist Party group led by General Secretary Xi Jinping that was established to spearhead reform efforts finished a document on September 15 addressing the plight of lawyers. A day later, top judicial authorities, including the Supreme People...

Caixin Media

09.28.15

Xi and Obama Should Make a BIT Breakthrough

President Xi Jinping has begun his first state visit to the United States to meet U.S. President Barack Obama in what state councilor and former foreign minister Yang Jiechi has called “a pivotal meeting at a critical time.”Xi arrived in the United...

Caixin Media

09.22.15

Chinese Contractor Finds Project in Bahamas Is No Day at Beach

A giant luxury resort planned on a beach outside the Bahamas’ capital, Nassau, that is supposed to be a showpiece to help China’s largest construction company tap the U.S. market has become a headache for both its builder and a lender.The resort was...

Caixin Media

09.15.15

Stock Market Volatility Is Not a Harbinger of Collapsing Growth

It would be a sad end to an amazing story. An economic miracle—one that lifted 300 million people from poverty and shifted the world's economic center of gravity—collapsing under the weight of risky investments and a financial crisis.This seems...

Caixin Media

09.08.15

Amnesty As a Stepping Stone to Rule of Law

A recent amnesty declaration affecting convicted criminals deemed no threat to society was a poignant reminder of China’s tradition of prudent punishment, support for human rights, and progress toward of rule of law.The recent decision by the...

Caixin Media

09.01.15

Quantum Computing and Alibaba’s Leap of Faith

Building a quantum computer that processes data at speeds trillions of times faster than the world’s fastest computer, China’s supercomputer Tianhe-2, is the goal of a potentially game-changing venture launched by Alibaba Group Holding Ltd. and the...

Caixin Media

08.24.15

How to Solve China’s Currency Parity Puzzle?

Boosting exports, controlling outbound capital flow and supporting the Chinese currency’s bid for Special Drawing Rights (SDR) status are just some of the reasons cited by analysts for the yuan's unexpected devaluation in mid-August.The yuan...

Caixin Media

08.18.15

Official Stonewalling on Tianjin Explosions Sparks Outcry

While victims of the Tianjin explosions are still waiting to be told why their loved ones died or, how safe it is to go outside, officials remained evasive in the sixth press conference regarding the disaster.In response to a question from a Caixin...

Caixin Media

08.11.15

Auditors Probe Sinopec, Savvy Broker in Angola

Government auditors are taking a closer look at U.S.$10 billion worth of offshore oil investments by state-run China Petroleum & Chemical Corp. (Sinopec) that owe their existence to a Hong Kong businessman with a flair for networking in the...

Caixin Media

08.03.15

Villain or Hero for Stock Market Saga?

An obscure equities-trading finance agency that brokers often slighted in favor of bank loans has suddenly taken center stage in the drama playing out in the stock market.But reviews are mixed over whether the four-year-old, quasi-governmental China...

Caixin Media

07.27.15

Tech Takeoff Lifts Drone Industry to New Heights

A tech evolution and falling production costs have allowed drones to make the flight off military bases and Hollywood production lots to the hands of ordinary people and government agencies.It has become routine to see these small unmanned aerial...

Caixin Media

07.20.15

How Beijing Intervened to Save China’s Stocks

Top executives from 21 securities firms spent the morning of Saturday July 4 pinned to government office chairs while the future of China’s stock markets hung in the balance.They’d been summoned on a day off to the Beijing office of the China...

Caixin Media

07.14.15

Uber CEO Enjoying a Fast China Ride

Demand for cross-town transportation is at the heart of an urban lifestyle that is defining modern China. It is also giving the American car-hire service Uber Technologies Inc. an incredible ride.Few are enjoying the ride more than Uber CEO Travis...

Caixin Media

07.08.15

Coming Home

More Chinese students headed abroad for university studies last year, but many of those returning for work expressed disappointment not only about their pay, but also about the types of companies employing them.A subsidiary of Beijing New Oriental...

Caixin Media

06.30.15

Tesla’s Ambitious Quest for Traction in China

Tesla Motors chief executive Elon Musk was mobbed like a pop star last year while introducing Chinese consumers to his U.S. company’s Model S electric car.Amid the frenzy, the American billionaire-entrepreneur ambitiously predicted China would...

Caixin Media

06.22.15

Why Fukuyama Still Beats a Drum for Democracy

American author and political scientist Francis Fukuyama has long extolled the virtues of democracy against the backdrop of the Soviet Union’s collapse and the end of the Cold War.Fukuyama’s best-selling book The End of History and the Last Man...

Caixin Media

06.17.15

Is China Knocking on Deflation’s Door?

China’s last war against deflation was waged in 1998, the year the nation’s consumer price index and producer price index suddenly plunged in tandem.The central government responded by launching economic and administrative reforms, hastening steps...

Caixin Media

06.09.15

China’s Cabinet Unveils Plan to Improve Rural Schools

The State Council has released a plan for improving the quality of education in rural areas over the next five years—a move the cabinet says is aimed at improving the quality of teaching at primary and secondary schools in the country’s less-...

Caixin Media

06.04.15

China Uses Drones to Monitor Pollution Problems from Above

China’s environmental regulators want to increase the use of drones watching pollution levels, supplementing the existing monitoring system.In the central city of Wuhan, drones were sent to urban areas to inspect emissions from chimneys that are...

Caixin Media

06.02.15

The South China Sea Is a Litmus Test for Sino-U.S. Relations

American officials were recently quoted in The Wall Street Journal as saying the U.S. military will send warships and fighter jets to the South China Sea as a show of its concern over maritime safety. They said U.S. warships would come within 12...

Caixin Media

05.26.15

Time for Reform Advocates to Step to the Fore

As the reform of China’s economy and society deepens, attention is turning to the people tasked with the job of spearheading and carrying out change. Thus, it was gratifying to hear the call by President Xi Jinping, made at the 12th meeting of the...

Caixin Media

05.19.15

Why Xinjiang’s Economy Is Sputtering

It has been almost one year since a terrorist bombing in Urumqi, the capital of the Xinjiang region, shocked the nation and brought economic woes and social conflicts in the largely Uighur-populated area into the spotlight again.I arrived by train...

Caixin Media

05.12.15

The Urgency of Continuing with Reform

Concern about the middle-income trap has grabbed public attention again. The minister of finance, Lou Jiwei, recently said at Tsinghua University that China had a “50-50 chance” of sliding into it in the next five to 10 years. However, many...

Caixin Media

05.05.15

A Byronic Hero for China’s Supremo

A little known vignette about Xi Jinping’s fondness for Song Jiang, a fictional hero in the 14th century classic novel The Water Margin, gives a peek into the private thoughts of China’s most powerful man. For someone born with a red spoon in his...

Caixin Media

04.28.15

Saudi Aramco’s Al-Falih on China Collaboration

Saudi Arabian Oil Company President and CEO Khalid A. Al-Falih has seen global oil prices rise and fall through at least six market cycles during his more than 30 years with the world’s largest crude producer and exporter.Al-Falih, 55, joined the...

Caixin Media

04.22.15

China’s Anti-Corruption Drive: Don’t Stop Now

Beijing’s fight against corruption is now two years old. Some significant results have been achieved, winning strong public support. But it’s becoming increasingly difficult to move the campaign forward.The general public and government officials...

Caixin Media

04.14.15

Bulldozing the Cadre Who Revamped Kunming

Warm, sunny Kunming brimmed with charm before Communist Party leader Qiu He brought an autocratic style of governance to town and spurred the urbanization campaign that preceded his downfall.Today, this historic city in southwestern China is a...

Caixin Media

04.06.15

Tycoon Said to Bring Down a Deputy Mayor, Control Key Beijing Land Deal

A recent business dispute between a state-owned technology conglomerate and a private property developer has put a low-profile but powerful businessman in the spotlight. The businessman is believed to have brought down a former Beijing deputy mayor...

Caixin Media

03.30.15

Plan for Next Five Years Must Free Up Disposable Income

The government's 12th Five-Year Plan concludes this year, and work on drafting the 13th will begin soon.Which way will China turn? In its work report to legislators at the National People's Congress meeting in March, the government pledged...

Caixin Media

03.24.15

Kissinger: China, U.S. Must ‘Lead in Cooperation’

Henry Kissinger, the former U.S. Secretary of State and the architect of former president Richard Nixon's historic visit to China in 1972, has continued to influence the shaping of the two countries' relations and America's foreign...

Caixin Media

03.17.15

Chinese Businesses Eye Purchasing Power of LGBT Community

Chinese businesses are starting to show interest in the purchasing power of the lesbian, gay, bisexual, and transgender (LGBT) consumer market, often referred to as the “pink dollar,” a trend led by e-commerce giant Alibaba Group...

Caixin Media

03.10.15

China’s Factories Are Building a Robot Nation

Every day, two quality-control supervisors monitor four robots tirelessly assembling remote-control devices for home appliances at a Midea Group factory in Foshan, in the southern province of Guangdong.The robots recently replaced 14 workers on the...

Caixin Media

03.03.15

Can Market Mechanisms Clear China’s Air?

The Chinese government recently responded to rising public discontent over environmental degradation by introducing tougher rules for industrial emissions.Meanwhile, a non-governmental organization and a state-run newspaper are coordinating a...

Caixin Media

02.25.15

Apple Pay Stalled, Frustrated in China

The central bank, UnionPay bank card service, and e-commerce giant Alibaba Group Holding Ltd. are standing up to Apple Inc.'s effort to bring the Apple Pay no-card, no-cash payment system to iPhone users in China."Apple is seeking to...

Caixin Media

02.17.15

Prosperity, International Cooperation, Civil Rights Key to Defeating Terror

The global fight against terrorism has entered a new stage with the emergence of the Islamic State (IS), and the battle lines have never been so clearly drawn all over the world.On February 18, Washington will host the Summit on Countering Violent...

Caixin Media

02.09.15

In China, Quantum Communications Comes of Age

This may be a quantum leap year for an initiative that accelerates data transfers close to the speed of light with no hacking threats through so-called quantum communications technology.Within months, China plans to open the world's longest...

Caixin Media

02.03.15

Minsheng Bank President Resigns Amid Corruption Investigation

China Minsheng Banking Corp. said on January 31 that its president has resigned, shortly after people close to the matter said the Communist Party is investigating him for corruption.Minsheng said in a statement that Mao Xiaofeng had quit as...

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