Cover Story: Anxin Trust’s $7 Billion Investment Black Hole

Cover Story: Anxin Trust’s $7 Billion Investment Black HoleCover Story: Anxin Trust’s $7 Billion Investment Black Hole.

Authorities probe how controlling shareholder Gao Tianguo, with ties to ‘Dazhou gang,’ tapped into investment funds for shadowy loans and projects.

China Business Digest: SMIC to Raise $7.5 Billion in Shanghai IPO; Inner Mongolia Reports Case of Bubonic Plague.

Anxin’s $7 billion financial black hole prompts regulatory tightening of trust industry; Beijing reports one new Covid-19 case.

Coronavirus Impact on China’s Job Market May Persist for Two Years, Expert Says.

Country’s already weak situation has worsened further, with service industries particularly affected, an economics professor told a recent forum.

Editorial: College Impostor Scandal Must Be Met With Harsh Punishment.

Education departments must take the opportunity to promote the good while rooting out the bad.

Appliance-Maker Admits to Error That Cost It Multi-Million Dollar Contract.

Gree Electric says it mistakenly submitted materials for a different project in its bid to supply China Mobile with water-cooling gear earlier this year.

Real-Time Tech News From Caixin Global.

Tencent Plays in U.S. With California Game Studio Launch Jul 06, 2020 02:34 PM Trending in China: Shenzhen Thinks Only Children Should Get Paid Leave to Look After Their Parents – Cue Heated Debate Jul 03, 2020 06:31 PM German Drugmaker BI Launches Shanghai Center to Harness Chinese Expertise Jul 03, 2020 04:35 PM Chinese Self-Driving Truck Firm Aims to Cover Most of U.S. by 2024 Jul 03, 2020 12:42 PM Trending in China: Chinese Netizens Tell Indian Prime Minister Modi To ‘Shut The Door On The Way Out’ As He Quits Weibo Jul 02, 2020 07:38 PM.

Bubonic Plague Case Sparks Health Alert in North China.

Authorities in Inner Mongolian city caution people to report fevers and be wary of rodents after livestock herder is hospitalized.

Jul 06, 2020 06:10 PM.

Leading Sichuan Coal Miner Pulled Into Bankruptcy.

Sichuan Coal Industry Group Ltd. reported losses in six of the last eight years as it suffers from higher costs than its peers in an oversupplied sector.

Jul 06, 2020 05:28 PM.

Caixin China Biz Roundup: Virus Fallout Could Stifle China’s Job Market for Two Years, Experts Say.

In today’s episode: while the domestic Covid-19 outbreak is largely under control, the pandemic’s knock-on effects on employment could linger much longer; mix-up costs Gree Electric a multimillion-dollar contract; netizens debate whether or not only children should be given paid leave to look after to their elderly parents.

Jul 06, 2020 05:00 PM.

ESR-Manulife Venture Acquires $243 Million Real Estate Portfolio in China.

The involved four institutional-grade logistics properties comprise over 2 million square feet of net rentable area.

Jul 06, 2020 03:44 PM.

HSBC Hires 100 Wealth Advisers in China.

Bank also setting up fintech venture as it eyes bigger share of growing market.

Jul 06, 2020 12:57 PM.

Sunday Long Read: The Mystery of $2 Billion of Loans Backed by Fake Gold.

The shocking revelation now leaves lenders holding the bag for the remaining 16 billion yuan of outstanding loans backed by the bogus bars.

Jul 05, 2020 05:00 PM.

Saturday Long Read: Chinese Students’ Win-Win With Western Education Gets Upended.

The plans of many Chinese people to head overseas for their education have now been plunged in uncertainty due to the Covid-19 outbreak as well as worsening China-U.S. relations.

Jul 04, 2020 05:00 PM.

Chinese Academy of Science Researcher Accused of Academic Plagiarism.

A University of California professor says Yang Hui plagiarized his team’s now-published study on Parkinson’s disease.

Jul 04, 2020 04:05 PM.

China Beverage Giant Wahaha Said to Mull $1 Billion IPO.

Hangzhou-based enterprise would join a rush of mainland companies to float shares in Hong Kong, including local rival Nongfu Spring, which also seeks $1 billion.

Jul 04, 2020 02:26 AM.

Shares of Citic Securities, CSC Financial Surge on Merger News.

Though both deny renewed Bloomberg reporting, analysts see a combination as feasible as policymakers press to create investment banking giant to compete with Wall Street.