✨ 22 Dec 2021 | Value Investing Substack NEWS
The hidden enemies in Xi Jinping’s midst, How Shein beat Amazon at its own game, China can learn from the West about mRNA, China's top livestreamer fined USD 200M, Teladoc's failed merger with Livongo
HIGHLIGHTS:
Meanwhile, the Chinese media reported that his former colleague, the ex-minister of justice and ex-head of the Public Security Bureau Fu Zhenghua, is being investigated for “serious violation of discipline and law,” according to a statement from the authorities.
Fu led the investigation into former security czar Zhou Yongkang, jailed in 2015. Zhou was a rival of president Xi Jinping and an ally of ex-Chongqing party chief Bo Xilai, arrested in 2013. Bo’s and Zhou’s arrests helped to consolidate Xi Jinping’s ascendence to power.
The news of Fu and Sun come weeks after their close ally, Peng Bo, a former top Chinese internet censor, was accused by the CCDI of disloyalty to the Party.
Peng, deputy chief of the Cyberspace Administration of China, was expelled from the Party in August. Peng and Fu crossed paths when the latter headed the Central 601 office, which in 1999 was in charge of the crackdown against the Falun Gong, ordered by ex-party chief Jiang Zemin. Peng was his deputy.
Fu is the fourth former deputy public security minister to be detained by the CCDI in recent years.
In 2016, Li Dongsheng, a former deputy national police chief and ally of ex-security tsar Zhou, was jailed for 15 years on corruption charges. Last year, the former head of the international policing agency Interpol, Meng Hongwei, was sentenced to 13 and a half years in jail for corruption.
(…) Xi has been trying to cut off Jiang and all previous leaders, but there are simply too many. There are people from Hu’s generation, from Jiang’s generation, and even some rare survivors of Deng’s times. They have privileges, political access, a network of friends and allies, and shield one another.
SUBSTACKS + BLOGS + TWITTER:
Community Group Buying (CGB) MAU peaked in March 2021, according to data from 久谦.
$DIDI's 橙心优选 and $PDD have given ground to $MPNGF.
If this data is accurate, 橙心优选's capitulation is spectacular.
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Stock Markets:
Teladoc acquired Livongo to recreate healthcare. A rushed union, a wave of senior exits, and sky-high expectations are testing the $14 billion bet. (Reddit - click to read paywalled content)
- It's been one year since Teladoc's megamerger with the chronic-care company Livongo.
- The goal is to build one app that covers primary care, chronic care, and other services.
- Teladoc has faced internal and external pressure, and more than 110 Livongo employees have left.
Chinese State Firm Weighs Bid to Take Over SCMP From Alibaba | Bloomberg
BNPL loans to be formally included in Equifax credit reports
News & Others:
A top Chinese respiratory scientist has urged China to learn from the West about advanced mRNA vaccine technology, and called on all countries to be open-minded about working together.
Speaking at the Greater Bay Science Forum in Guangzhou on Saturday, Zhong Nanshan also said countries should team up to explore how to mix and match Covid-19 vaccines for greater effectiveness.
“We should learn about the good things in other countries, such as mRNA vaccines. They have spent years on the research and managed to develop mRNA vaccines [for the coronavirus] in just a few months,” Zhong said.
“The urgency of the disease has accelerated the work in this regard. We should learn [from other countries] aspects such as the technology and delivery mechanism [of mRNA vaccines].”