FirstFT: Chinese media supports expanding regulatory crackdowns

FirstFT: Chinese media supports expanding regulatory crackdowns


China politics and policy updates

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Bloggers, widely supported by Chinese state media, call for Beijing’s snowballing regulatory reforms Aim for high costs Housing, education and health care, while deepening reforms in the financial and cultural industries.

“This is a shift from capital-centered to people-centered,” the author said, adding that those who try to prevent deep reform efforts will be “abandoned.”

This commentary was originally published by a popular nationalist blogger and has been reposted by China’s largest state and party-controlled media, including Xinhua News Agency, People’s Daily, and China Central Television, demonstrating the country’s broad support.

Investors and companies across China are publishing the report as they prepare for the next step of Beijing’s large-scale technological crackdown, which has hit the e-commerce, education, fintech, online car-hailing and gaming industries, and has triggered suspected abuse Allegations of data security, antitrust enforcement and regulatory laws. Labor and consumer rights.

Thank you for reading FirstFT Asia. Does Beijing’s regulatory crackdown affect your industry?Share your thoughts with me [email protected] -Emily

There are five more stories in the news

1. Biden defended his withdrawal from Afghanistan in a White House speech The president initiated his The most powerful defense so far The day after the last U.S. forces flew out of Kabul and ended its 20-year military presence there, the United States withdrew from the Asian country in chaos.

  • deeper: With the disappearance of the United States, the Taliban will Show its true colors Regarding human rights and its pledge to form an “inclusive” government.Follow our latest report on Afghanistan Fortis.

2. Indebted Chinese developers warn of default risks Evergrande has issued a warning Debt default risk If it cannot raise cash, because China’s most indebted real estate developers are trying to avoid the spreading liquidity crisis.

3. The Theranos founder trial begins Elizabeth Holmes, founder of blood testing startup Appear in court Yesterday, the selection of the jury began one of Silicon Valley’s largest trials involving alleged fraud.

Elizabeth Holmes was outside the courtroom on Tuesday. Her company, Theranos, was once hailed as a revolutionary start-up, but later collapsed due to evidence against its technical accuracy. © Nic Coury/AP © AFP via Getty Images

4. Korean law hits Google and Apple’s app stores South Korea became the first in the world Attacking lucrative commissions After passing a law that allows mobile phone users to directly pay software developers for their apps, the technology group’s app store collects fees.

5. Horn calls on the Canadian national chief executive to resign due to rail transactions British hedge fund manager Chris Horn asks CN Abandon its $34 billion pursuit In southern Kansas City, the US railroad regulator rejected the way the deal was structured because it might harm the public interest.

Coronavirus Digest

  • South Korea A budget for 2022 has been proposed to maintain record levels Radical fiscal expenditure Strive to deal with the impact of the pandemic.

  • Annual meeting experts Biological Weapons Convention Already called Stronger power As the Covid-19 pandemic has increased global awareness of biological threats, the treaty is implemented.

  • inside US, QR code As the pandemic promotes automation, more and more young service workers are replaced.

  • Due to the shortage of new energy vehicles Tight semiconductor supply Is sparking a once-in-a-lifetime boom Used car market.

The year-on-year change histogram (%) shows that the epidemic has triggered a surge in used car prices

Register our Coronavirus business update Send regular emails to understand how the pandemic affects the market, global business and our workplace.

the day before

Australian gross domestic product The Australian Bureau of Statistics will today release GDP data for the second quarter of 2021.As the country’s economy is likely to grow, it is expected that there will be a significant contraction in growth Has slowed down Before the recent coronavirus restrictions took effect. (Reuters)

OPEC+Conference OPEC and its allies may stick to their plan to resume production cuts when they meet today. But as the anxiety surrounding the Covid recovery intensifies, analysts said the group may have to adjust its course before the end of the year.More from yesterday Energy source. register here Receive newsletters in your inbox.

Unemployment data in Europe Eurostat’s unemployment data will be released today together with Italy’s Istat unemployment data.The complete list of economic data released today is in our Newsletter a week ago.

The Financial Times, in cooperation with the United Nations Foundation, is pleased to host a strategic preview of the United Nations General Assembly, bringing together a variety of insightful speakers to discuss expectations, stakes, and why it is important to you.register here Attend our event on September 15th.

What are we still reading

Demographics mean that the decline in interest rates is far from over In Japan, the aging population has an unexpected effect on inflation and wages. Although it is believed that the demographic reversal will transform the current era of stagnant prices into a new era of inflation, this has not happened in Japan. A new paper explains why.

Joe Biden and Europe take different paths The President of the United States will not lose any vote on the European Union’s decision to restore travel restrictions on Americans on Monday. But this is a bad sign, Edward Luce wroteThis move is not only because Biden is unwilling to compare Europe’s opening to American tourists this summer, but also because of the high delta mutation infection rate in the United States.

Universal basic income is not the only solution We are at a time when our work becomes more uncertain. The state’s policy of unconditional monthly payments is usually seen as a solution. But the universal basic income will shape the labor market in unpredictable ways, Sarah O’Connor writes.

Will you support the universal basic income policy?Tell us in our polling.

Carbon offset: pollution permit or The road to net zero? Emerging but growing trends in the energy sector combine fossil fuel transportation with Carbon offset — Organizations purchased units to compensate for emissions and help their carbon-intensive goods look more environmentally friendly. But critics believe that offsets are not capturing as much carbon as they claim.

It’s time for a frank conversation at work Stefan Stern wrote that if culture and society are to become living things, different generations will-should-collide with each other. The same is true for companies. But how does this help well-meaning executives? Worried that they would say the wrong thing Regarding race, gender identity, sexual orientation, disability, or other sensitive issues?


With climate change and the new crown virus raging around the world, Afghanistan has witnessed the largest military retreat by the United States since Vietnam, and a small part of humanity has been fascinated by another thing throughout the summer.will Donda To be released forever? After several weeks of delay, it is finally available for everyone to hear, Donda Is a dumb, Critic Ludovic Hunter-Tilney says.

Kanye West released his 10th studio album © Getty Images for Universal Music

Kanye West released his 10th studio album © Getty Images for Universal Music

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