Good Morning. Welcome to The Wire’s daily news roundup. Each day, our staff gathers the top China business, finance, and economics headlines from a selection of the world’s leading news organizations.
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The Wall Street Journal
Embattled Chinese Property Tycoon Turns to Electric Cars. Cue $87 Billion Valuation. — Evergrande founder Xu Jiayin hasn’t sold any vehicles yet and his real-estate empire is groaning with debt.China’s Mutual-Fund Stars Go From Boom to Backlash — Investors thronged to market-beating fund managers. Then the market slumped, and the onetime stars became targets of online ire.TikTok Parent’s Founder Zhang Yiming to Step Down as CEO — Co-founder Liang Rubo to lead ByteDance, inheriting a company that is facing growing government pressure in China to stay in line.Tencent Earnings Power Through Tech Crackdown — The gaming
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