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This week on the Caixin-Sinica Business Brief: Seventy-nine newfound COVID-19 cases in Beijing threaten to send the city back into lockdown, American Express receives approval to start bank card clearing services in China, and a 24-hour hostage situation involving one of China’s richest men ends with five arrests.

In addition, we speak with Doug Young, Caixin Global’s managing editor, about Chinese internet giant NetEase and its secondary IPO in Hong Kong as China-U.S. tensions continue to rise.

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