Caixin Media

06.18.14

China’s Retiring Migrant Workers Have No Place to Call Home

A generation of Chinese people from rural areas who moved to the big cities to find work is reaching retirement age, but many are finding they have been left outside the country's urban pension system despite extensive reforms in recent years...

Caixin Media

06.10.14

A Jesuit Astronomer in a Qing Emperor’s Court

Sheila Melvin
Of the 920 Jesuits who served in the China mission between 1552 and 1800, only the Italian Matteo Ricci (Li Madou) remains well known. This is understandable—it was Ricci who first gained permission for the Jesuits to live in Beijing and who...

Caixin Media

05.27.14

Threats to Anonymous Sources Shake Chinese Journalism

Courts in the capital are mulling over what's being described as the first legal attack against the use of anonymous sources in news reports published by the Chinese media.The charges leveled against the Guangzhou-based Southern Weekend...

Caixin Media

05.19.14

“White Glove” Sisters at Center of Coal Country Graft Scandal

Two sisters with business savvy and important friends in high places are now the standout figures in the mysterious case of a former Shanxi province government official, Jin Daoming, charged with corruption.Few details of the Jin case have emerged...

Caixin Media

05.13.14

China Comes to Grips with Poisons Underfoot

Pollution that is easily perceptible in China's rivers and urban air has gotten a lot of attention in recent years.Now a less obvious environmental concern with equally serious repercussions—soil contamination—is getting the attention it...

Caixin Media

05.06.14

Growing Pains for a Megalopolis in Transition

Twenty years of on-and-off government discussions have yielded little progress toward the goal of coordinating urban and industrial development in a key Chinese megalopolis—the region encompassing the nation's capital Beijing, neighboring Hebei...

Caixin Media

04.29.14

‘Black Jail’ Victims Hunt Down Captors, Get Day in Court

A recent one-day trial in the northern province of Hebei involving China’s “black jail” industry came about because people who say they were illegally detained did some detective work to find their former prison and then took the matter to the media...

Caixin Media

04.23.14

Graft Inquiry at CNPC Uncovers Shady Deal

A little-known deal related to an equally little-known, yet highly productive oilfield has come to light as a graft investigation unfolds at oil giant China National Petroleum Corp. (CNPC). A businessman with strong ties to officials is behind the...

Caixin Media

04.15.14

New Sichuan Petchem Plant on Shaky Ground

A controversial petrochemical project in the southwestern province of Sichuan quietly went into operation in March, but questions about the China National Petroleum Corp. (CNPC) facility continue to linger.The project is in Pengzhou, a city of 763,...

Caixin Media

04.08.14

Crimea Rattles the Chinese Dream

At the Sochi Winter Olympics, President Xi Jinping professed his affection for Russian letters. Pushkin, Lermontov, Gogol, and other literary giants made up the reading list of his youth, and his generation was raised on a diet of Russian culture...

Caixin Media

04.01.14

Eviction by Arson: Land-Seizure Turns Deadly

A village head and the boss of a building company were among the seven people arrested over an arson attack on a protest against a land seizure in Shandong Province in which one man died and three others were hurt.The government of Pingdu, a county...

Caixin Media

03.25.14

State-Owned Oil Firms Invite Outside Investors

Since February, state-owned oil majors have taken steps toward pilots in mixed-share ownership, following central government calls for reforms to state-owned enterprises (SOEs).   After the Chinese New Year, China Petroleum and Chemical...

Caixin Media

03.18.14

How Xinjiang Real Estate Takes Its Shape

Police nabbed property developer Zhao Xingru and detained her for more than thirty days in late 2012 and early 2013 based on fraud allegations filed by executives at one of the country's largest developers, Hangzhou-based Greentown China Group...

Caixin Media

03.11.14

Li Ka-shing’s Remedy for ‘Coddled’ Hong Kong

Hong Kong tycoon Li Ka-shing is again in the media spotlight after he mentioned in late February the possibility of publicly listing his retail business A.S. Watson Group, which is part of the Hong Kong-listed conglomerate Hutchison Whampoa."No...

Caixin Media

03.04.14

Henan Villagers Seek Justice in Hepatitis C Scandal

Villagers from a county in the central province of Henan say they are still seeking justice almost two years after a doctor admitted reusing syringes and nearly 1,000 people were found to have hepatitis C.The scandal, which has received little...

Caixin Media

03.03.14

Kunming Attack Is ‘China’s 9/11,’ State Media Says

In the days after a major terror attack in Kunming, state media outlets are calling for a united front to combat terror and warning against excusing the attackers or criticizing the government’s policies on minorities.On the evening of March 1, a...

Caixin Media

02.25.14

Sichuan Tycoon Charged with Murder Linked to Ex-Top Security Czar’s Son

A Sichuan tycoon who has been charged with a host of gang-related crimes, including murder, was a close business partner of a former top leader’s son, himself caught in a corruption inquiry.Prosecutors say Sichuan Hanlong Group chairman Liu Han, his...

Caixin Media

02.18.14

Lee Hsien Loong on What Singapore Can—and Can’t—Teach China

As one of the Four Asian Tigers, Singapore is known for its strong economy and orderly society. The city-state, with its population of 5.3 million people, is listed by the World Bank as fourth in the world in terms of per capita income. As a...

Caixin Media

02.11.14

Local Governments Aim for Lower GDP Growth This Year

Most of the local governments that have announced their GDP targets for this year aimed lower than they did in 2013, citing the need to rebalance the economy and improve the quality of growth. Many missed their growth targets last year.The...

Caixin Media

01.27.14

Time for Overhaul of China’s Land Market

The expected launch of land reform is dividing opinions. At a work meeting this month, the Minister of Land and Resources, Jiang Daming, said the central government would limit land supply in cities with more than five million residents. His words...

Caixin Media

01.21.14

How a PLA General Built a Web of Corruption to Amass a Fortune

More than twenty policemen lined up at the gate of a massive mansion in a village in the central province of Henan at midnight on January 12, 2013, loading heavy crates onto two military trucks.Hours later—loaded with twenty crates of expensive...

Caixin Media

01.13.14

Leading the Battle for Reform

The turn of the year brought news that President Xi Jinping will take the helm of the new leading group for overall reform.This group is a key part of China’s reform drive. As soon as its formation was announced at the Third Plenum of the Communist...

Caixin Media

01.08.14

How Shanghai’s Free Trade Zone Works

At a conference table surrounded by bookshelves in his Shanghai office, the city’s party boss Han Zheng recently polished the image of a commercial crown jewel—the China (Shanghai) Pilot Free Trade Zone—during an exclusive interview with Caixin.Han...

Caixin Media

01.07.14

Chinese Firm Linked to CNPC Suspected of Fraud in Iraq

Just after the December 29 celebration of the Muslim holiday Ashura in southern Iraq, heads of the Iraqi subsidiary of China National Offshore Oil Corp. (CNOOC) received a letter titled “Suspending all activities of Hermic.”The sender of the letter...

Caixin Media

12.30.13

The Rise and Fall of a Local Official Obsessed

A November 27 statement by the Communist Party’s anti-corruption watchdog confirmed that the Deputy Governor of Hubei Province, Guo Youming, was being investigated for graft.Three days later, Guo was removed from his post, becoming the thirteenth...

Caixin Media

12.17.13

Are Changes to China’s Family-Planning Rules Too Little, Too Late?

Among the sixty areas covered in the Communist Party’s “decision” document released after the third plenum of the Eighteenth Central Committee, the most popular among ordinary people is a revision to the family planning policy to allow some couples...

Caixin Media

12.09.13

Traditional Chinese Medicine Struggling to Find Cure for Regulatory Woes in the U.S.

In November, the traditional Chinese medicine (TCM) Fuzheng Huayu Tablets passed the second phase of the U.S. Food and Drug Administration’s (FDA) clinical testing.Before this, only one TCM drug had cleared the second of the three phases needed for...

Caixin Media

12.02.13

How an Expectant Mother Died in Qingdao

One of the fifty-five people to die in an explosion on November 22 at a pipeline owned by China Petroleum & Chemical Corp. (Sinopec) in the eastern city of Qingdao was a twenty-three-year-old pregnant woman named Chen Na.Her husband, who...

Caixin Media

11.25.13

Chinese State Oil Scandal Has Links to Iraq

A legal storm that started with China’s largest state-owned oil company has expanded to include Iraq and led to the detention of more people.Mi Xiaodong, a former mid-level official at China National Offshore Oil Corporation (CNOOC) was detained by...

Caixin Media

11.18.13

What Do Investigative Reporters Do?

With the recent Chen Yongzhou scandal, many have called for an “investigation” into the investigative reporting business.I apply the term “investigative reporters” to those that often wade into the deeper, uncharted waters of the media’s realm. I...

Caixin Media

11.11.13

How Ambition Buried an Official Known As ‘The Digger’

Cranes and bulldozers were quieter in the ancient city of Nanjing on October 16.News broke that day that the city’s fifty-seven-year-old mayor, Ji Jianye, was being investigated for “suspected serious discipline violations,” the Communist Party’s...

Caixin Media

11.04.13

China’s Chilling Effect for Investor Research

Shanghai investor Wang Weihua’s final microblog post October 12 was brief and ominous: “The police are coming.”Three days later, Wang’s family said he’d been taken into custody by police officers who traveled more than 3,600 kilometers to Wang’s...

Caixin Media

10.28.13

How Police Got It So Wrong Arresting a Journalist

The arrest of a journalist for allegedly damaging the reputation of an equipment manufacturer has spurred debate in both the media and legal circles. The discussions revolve around the rights of the press, interpretation of the law, and possible...

Caixin Media

10.21.13

Is Freedom of Thought in China Just a Dream?

The Shanghai Free Trade Zone was recently launched. The measure is commonly regarded as an attempt by the leadership of the Communist Party to further economic reform, which has slowed over the past decade. It is also part of what policymakers call...

Caixin Media

10.15.13

Sip of Death Plagues River Villages

Cancer is claiming fewer lives these days, and Dr. Wang Shiren says he’s been caring for a steadily declining number of patients suffering from gastrointestinal disorders.Yet a decades-long health calamity continues to grip Huangmengying, a Henan...

Caixin Media

10.08.13

Shandong Shipyard’s Lesson: Don’t Rock the Bank

What was initially billed as a lucrative order from a European customer has pushed a Shandong Province shipbuilding company to the brink of bankruptcy and ruined its relationship with one of China’s biggest banks.Rushan City Shipbuilding Co. is...

Caixin Media

09.30.13

Reform of State-Owned Enterprise Requires Adopting Modern Governance

Corruption involving the country’s state-owned enterprises (SOEs) has hogged the headlines. So far, senior executives at China National Petroleum Corp. have been sacked, former railways officials have been hauled to court and, most recently, news...

Caixin Media

09.23.13

Measuring the Wealth Gap

Recent findings by China Society of Economic Reform (CSER) have offered a rare glimpse into growing income inequality in the country.The study shows that in 2011 unidentified “gray income,” or the difference between CSER-surveyed income and that of...

Caixin Media

09.16.13

Chongqing Officials Mired in Web of Sex, Lies and Video

When a sex video involving a Chongqing official went viral on the Internet on November 2012, like millions of others, Tan Linling clicked out of curiosity.To her surprise, Tan recognized the woman in the video as a former colleague and friend named...

Caixin Media

09.10.13

Sober Day Dawns for China’s Baijiu Distillers

Distillers of China’s most popular spirits, baijiu, are sobering up to a business slowdown and tight financing after a decade of outstanding growth.Sales are off and company market values have fallen over the past year, prompting some investors to...

Caixin Media

09.04.13

China’s Shale Gas Development Goals Just Pipe Dreams

China wants to reap the benefits of a shale gas revolution similar to the one in the United States, but there are many obstacles to this happening, experts say.In the first half of 2013, fifty-six shale gas wells were in the exploratory phase in the...

Caixin Media

08.27.13

Inner Mongolia: Where Bankers Sold Bunk

Underlying the trial of a woman authorities say drained bank accounts and kidnapped a banker’s wife are vexing questions about account security and teller supervision at China’s state-run bank branches in Inner Mongolia.Hundreds of millions of yuan...

Caixin Media

08.19.13

Infrequent Flying Snarls Civil Aviation Sector

Getting away for a little surf and sand ought to be easy for Beijingers like Mr. Wang, who recently boarded one of the daily, four-hour flights that link the capital and sub-tropical Hainan Island in China’s far south.But airport delays seriously...

Caixin Media

08.12.13

China’s Urban Sludge Dilemma: Sinking in Stink

Promptly at noon on March 17, a heavy truck hauling a dark substance and on a dark mission pulled out of the Gaobeidian Wastewater Treatment Plant in eastern Beijing.A wastewater treatment engineer helped a Caixin reporter identify the unusual load...

Caixin Media

08.05.13

County in Shaanxi in a Deep Hole as Mining Bubble Pops

A financial crisis triggered by falling coal prices is brewing in Shenmu County, in the northwestern province of Shaanxi.Construction projects have been halted, universal health care has run into payment problems and many private bankers have...

Caixin Media

07.29.13

Why a Reporter Feels Sympathy for an Airport Bomber

These past few years as a reporter, I have met some people with nothing left to live for and now another person can be added to the list. Ji Zhongxing, the disabled man who set off a bomb in a Beijing airport on July 20, is that person.Ji and I are...

Caixin Media

07.22.13

Liberal Urge Gaining Support for Bank Policy

The orchestra is tuning up for an interest rate liberalization initiative that financial analysts are calling music to their ears.Recent high-level comments and policy statements heard in Beijing have clearly sounded a central government call for...

Caixin Media

07.16.13

As Red Cross Probe Stumbles, Critics See Red

Two box lunches—and nothing more. Yuan Yue says that’s what the Red Cross Society of China has frugally handed out so far to each member of a special committee assigned to investigate the charity group’s finances.But critics of the special board...

Caixin Media

07.08.13

Central Bank Raises the Red Flag over P2P Lending Risks

A recent report by the central bank about peer-to-peer (P2P) lending websites in China has shed light on some severe problems in the business for which there is, as yet, little regulation.The original idea for P2P lending websites was that they were...

Caixin Media

07.01.13

Renewed Growth on the New Third Board

The State Council announced on June 19 that it would expand the New Third Board, an over-the-counter (OTC) market for non-listed companies’ shares, to include all small and medium-sized enterprises (SMEs) nationwide.One of the experts estimated the...

Caixin Media

06.25.13

Spoon Half Full for China’s Rural School Kids

A 2010 survey of boarding school students in four of China’s poorest counties found hunger pangs, malnutrition and stunted growth appallingly common.Some 72 percent of the more than 1,000 students questioned for the China Development Research...

Caixin Media

06.25.13

Legal, Economic Reforms Important At Coming Party Session

China’s blueprint for economic reform is finally taking shape. The government has appointed a taskforce to draft the plans, ahead of the third plenary meeting of the 18th Central Committee. With the country’s economy at the crossroads, these plans...

Caixin Media

06.18.13

Will Bond Market Tidying Trigger Clean Sweep?

China’s financial regulators are rewriting rules for the interbank bond market after criminal investigations early this year led to the arrests of several well-known bond traders and exposed serious flaws in the market’s supervision system.The...

Caixin Media

06.03.13

Trading Companies and the Business of Illusion

Last year, the owner of an export-processing company whom we will call Lin Minyao learned of an easy way to make money in Shenzhen, the port city next to Hong Kong.Like his fellow traders, Lin said he could set up two shell companies, one in Hong...

Caixin Media

05.25.13

Honeymoon’s Over for Sweethearts of SOE Reform

Corporate wedding bells were ringing in 2011 when a trust controlled by insurer Ping An Insurance Group forged a partnership with a Shanghai-based cosmetics maker called Jahwa Group and its listed subsidiary, Jahwa United.The tie-up was duly praised...

Caixin Media

05.20.13

Errors of Aggression Catch up with Underwriter

Ping An Securities Co. has been slapped with a fine by the securities regulator and will lose its stock underwriting license for three months because of its sloppy work in underwriting the initial public offering of a company that turned out to be a...

Caixin Media

05.13.13

Competitors Try Curbing China Mobile’s 4G Urge

The wireless Internet technology race is intensifying a longstanding rivalry between China’s largest mobile phone operator, China Mobile, and its smaller competitors China Telecom and China Unicom.Since 2011, China Mobile customers in fifteen cities...

Caixin Media

05.04.13

Earth Moves, China Rallies

Rapeseed was ripening in the lush fields ringing the village of Renjia when a local farmer, forced from his home, stepped into the sea of green stalks and pitched a tent.Less than a day earlier, the farmer and each of his more than 3,000 neighbors...

Caixin Media

04.27.13

Cracking Down on Bond Market’s Knotty Traders

It was a typical workday morning at Wanjia Asset Management Co. in Shanghai’s downtown financial district, but the firm’s star bond trader Zou Yu was not at his desk.Zou, 31, had mysteriously failed to report for his job as head of Wanjia’s fixed-...

Caixin Media

04.22.13

Heading off a China-style Subprime Mortgage Crisis

Warning of local governments’ high exposure to bad debts, the credit agency Fitch recently downgraded China’s long-term local-currency rating from AA– to A+. Officials should take note: the downgrade underlines how closely international markets are...