Poyang Lake /
Address Tale: Will a barrier to the Yangtze River help save Poyang Lake?
Wu Hedao, a dark-skinned, 53-yr-previous fisherman, grew up on a tiny island in Poyang Lake, China’s most significant freshwater lake located in the southeastern aspect of the place. For the previous two many years, he has listened to speak about the government’s plan to construct an 18-meter (59-foot) dam to sustain the lake’s h2o level through the dry period.
What Wu does not know is that the program has been shelved for 6 several years due to the fact of opposition from environmentalists. Now a revised task to build a sluice gate program is less than dialogue and open for general public responses. It has renewed the debate about the impact on biodiversity.
Unimpressive success reported for China’s very first Covid capsule prospect
Chinese drugmaker Genuine Biotech reported unimpressive trial effects for its Azvudine Covid therapy, prompting a provide-off in connected drug stocks.
The reaction reflected concerns that Azvudine’s clinical trial results fell limited of regulatory suggestions. Although privately held Real Biotech stated the drug improved scientific indicators, Chinese regulators in a February guideline said Covid-19 solutions should really cut down critical ailment and dying.
Blog site: Optimizing China’s vaccination tactic is the answer to beating omicron
China private expenditure fund rules stuck in limbo for a different 12 months
Proposed policies that would fill a regulatory hole overseeing China’s 20 trillion yuan ($3 trillion) private investment decision fund field didn’t make it on to the Point out Council’s once-a-year legislative get the job done plan for the to start with time in nine yrs, preserving the sector mired in legislative limbo for another 12 months.
The regulations are envisioned to efficiently address challenges in the sector and set up a regulatory framework at the degree of the State Council, the country’s cupboard. But they did not surface on the legislative work approach issued Thursday.
FINANCE & Overall economy
Wu Yibing, Singaporean condition-owned investor Temasek Global Pte. Ltd.’s president of China. Image: Temasek
Temasek focuses on China’s micro-stage expansion traits, head of China suggests
A lengthy-phrase trader in China assets, Temasek Global Pte. Ltd. tends to seem further than GDP figures and come across possibilities on the micro-stage, Wu Yibing, the company’s president of China, stated in an job interview with Caixin last 7 days.
The Singaporean condition-owned enterprise mostly invests in 4 regions in China — digitalization, sustainability, lifetime sciences and new usage — symbolizing at least half of China’s GDP, in accordance to Wu. Because Temasek’s investments tend to be from the base up, macroeconomic trends are not automatically the most vital factor to look at out for when in search of prospects on a granular amount.
One more Tomorrow Keeping device cleared for personal bankruptcy
E An Home & Casualty Insurance coverage Co. Ltd., an insurance company previously controlled by embattled personal conglomerate Tomorrow Keeping Co. Ltd., was cleared to start off bankruptcy proceedings.
The transfer is part of regulators’ many years-lengthy efforts to dismantle the troubled company empire of fallen tycoon Xiao Jianhua. The Chinese-Canadian billionaire Xiao was placed under Chinese graft investigation in January 2017. His Tomorrow Holding is a person of the greatest-profile targets swept up in China’s crackdown on monetary dangers.
China difficulties much more guidelines for online lending to command dangers
China’s leading banking regulator issued additional guidelines governing on the web lending by commercial financial institutions, like loans jointly issued with third-bash online platforms, as authorities ramp up endeavours to manage financial dangers in the sector.
The further regulations further explain the necessities for personal loan management and unbiased chance command envisioned of lenders, in accordance to a Q&A printed by the China Banking and Insurance plan Regulatory Commission (CBIRC) Friday.
Quick hits /
China traders pile into carry trades even though straightforward revenue lasts
Editorial: Advertising the integration of migrant employees into metropolitan areas
Business enterprise & TECH
Special: Hainan Airlines’ operator seeks $3 billion emergency bank loan, sources say
Liaoning Fangda Group Industrial Co. Ltd. is seeking an emergency personal loan of 20 billion yuan ($3 billion) with the aid of the Hainan provincial federal government to assist in working HNA Group Co. Ltd.’s main airline operations, individuals familiar with the matter explained to Caixin.
The Beijing-dependent strategic trader Liaoning Fangda, which only assumed administration of HNA’s flagship provider Hainan Airways Keeping Co. Ltd. in December as aspect of the conglomerate’s restructuring, has consistently asked for financial aid from the Hainan provincial government, the resources reported.
Electric automobiles /
Electric powered-motor vehicle maker Sokon raises $1 billion in stock sale
Carmaker Chongqing Sokon Industry Group Co. Ltd., most effective recognized for its vehicle know-how partnership with Huawei, lifted billions of yuan to fund a pivot to electric autos (EVs).
The Shanghai-mentioned corporation elevated 7.13 billion yuan ($1.05 billion) by way of a private placement involving 17 traders, it explained in a Saturday exchange submitting (backlink in Chinese). The 137 million shares on offer— equal to a 10% stake — had been priced at 51.98 yuan each individual, symbolizing a practically 30% lower price to the closing price tag on July 15.
Speedy hits /
Didi fined 4.3 million yuan for breaking revenue laundering guidelines
Huawei’s secretive chip device recruits sophisticated engineers
China’s very first prolonged bounce gold
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