Weekly to read: what’s behind the regional blackout in China?
The Unmissable newsletter from Caixin brings you the best of our coverage from last week, handpicked by our editors.
# Power Crunch #
What’s behind the regional power outages in China
A shortage of coal and a resurgent economy are forcing industry and households to ration electricity
Coal shortage and resurgent economy are forcing industry and households to ration electricity
Analysis: Serious imbalance between supply and demand for coal poses a challenge for winter supply
Many provinces are imposing electricity rationing as rising demand for electricity comes up against supply constraints; high prices and coal shortages reflect past regulatory crackdown
Opinion: Supply / demand mismatch, price caps to blame for China’s electricity shortage
Power producers are overwhelmed by low prices and capacity constraints, as demand far exceeds supply; conservation and emissions measures add to the problem but are not to blame
Electricity shortages are taking the juice out of manufacturing in China, according to Caixin PMI
The purchasing managers index rose to 50 in September, the second lowest figure in 17 months, as squeezing electricity supply and rising raw material prices dampened factory production.
# Cover story #
China’s assault on Big Tech’s “walled gardens”
Business growth models of Tencent, Alibaba, ByteDance and their competitors face risk as government urges them to stop blocking links between other people’s services
# Gallery #
UNESCO Jiuzhaigou site reopens completely
# Business #
In detail: local governments take control of Evergrande’s income from home presales
The change forces the heavily indebted developer to prioritize finishing homes he has already sold over repaying his creditors
In depth: Behind the fall of HNA, a web of nepotism stretching from New York to Hainan
Brothers of Now-Arrested President Chen Feng and Late Co-Founder Wang Jian have woven a network of companies that have conducted secret transactions with a bankrupt conglomerate
# Finance #
In detail: how the founder of Evergrande played in the capital markets
Hui Ka Yan had a knack for creating a hype that drove the debt-ridden developer to a stratospheric appraisal, allowing him to borrow ever larger amounts.
In depth: Evergrande founder ‘s poker buddy falls back on faltering developer
Faithful investor Chinese Estates offloads shares of world’s most indebted real estate developer as falling stock prices result in billions in losses
Tip sheet: clues to Evergrande’s fate may be found in past rescues
Restructuring of HNA and Huarong could provide insight into what lies ahead for struggling property developer
# World #
China’s deepening downturn could have a ‘negative’ long-term impact, say EU companies
China Should Reaffirm Commitment To “Increase Integration In Global Economy,” Chamber Of Commerce Document Says
# China #
In detail: how a “patent Troll” got behind bars
Li Xingwen has sued many companies for violating his hundreds of patents. But his tactics to sue a pre-IPO company seem to have gone too far
# Region #
Power outages put lives at risk in energy-rich northeast China
In Liaoning Province, 23 People Must Be Hospitalized After Power Failure At Closed Ventilation Plant, Leading To Carbon Monoxide Poisoning
Power compression leads several Chinese provinces to impose restrictions
Hunan, Guangdong, Liaoning, Jilin and Heilongjiang resort to power cuts and rationing of industrial users, although some residents have also been affected
Zhejiang Orders Production Suspensions To Meet Energy Targets
Textile, dyeing and man-made fiber companies hit by China’s campaign to cut climate-modifying greenhouse gas emissions
# Research & Analysis #
Global tax reform on track, but obstacles remain
The final agreement on tax reform will be released next month; EU-wide agreement and US congressional approval essential
# Evergrande crisis #
Heavily indebted, China Evergrande Group, one of the largest real estate developers in the country, is suffering from a liquidity crisis after years of running a highly leveraged company. The company’s problems have already started to trickle down to the Chinese economy and markets around the world.
# Newsletter: the best stories of the month #
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