1 rich Libsyn https://www.libsyn.com 90 600 Program description: China Business Uncovered takes listeners inside China’s business world through the eyes of reporters who investigate it firsthand. Featuring open conversations with Caixin journalists, each episode breaks down the most complex developments inside Chinese companies. Tune in to understand how critical stories are covered, what’s really happening beneath the surface, and why it matters for businesses and investors operating in and around China. Recorded in Mandarin and produced in English with the help of AI, China Business Uncovered brings Caixin’s in-depth investigative reporting to a global audience. Episode intro: Baolide Holdings Group, once one of East China’s biggest luxury car dealers, collapsed in 2024 under the weight of a market downturn, high-interest private borrowing and alleged falsified accounts. But what made the case stand out was the star-studded group of investors founder Yu Haijun managed to draw in, including figures linked to Alibaba, NetEase and Hillhouse Capital. In this episode of China Business Uncovered, host Kelsey Cheng speaks with Caixin reporter Wang Juanjuan about how Yu kept Baolide’s IPO story alive for years and what the company’s fall reveals about a private-business financing ecosystem where relationships can substitute for proper due diligence. Chapters: (01:55) Baolide’s rise as a luxury car dealer (03:46) How founder Yu Haijun turned relationships into business (08:32) The listing story that became a fundraising tool (11:10) The lakeside banquet that kept star-studded investors believing (15:35) Two sets of books and Baolide’s real financial picture (17:04) High-interest private debt and the cash-flow black hole (21:13) Business failure or fraud? (27:56) What Baolide’s case reveals about trust in China’s business world This episode of China Business Uncovered was based on these stories: In Depth: How a Lakeside Banquet Reinforced Confidence in Baolide Among China’s Tech Elite In Depth: How China’s Tech Elite Got Burned by Luxury Car Dealer Baolide’s IPO Mirage&amp;nbsp; Founder of Bankrupt Luxury Auto Dealer Baolide Detained in Fraud Probe Produced by Kelsey Cheng and Du Bohan. Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations. Save an extra $50. Introductory offer for new readers. Subscribe now. China Business Insider - News From Caixin Global https://www.caixinglobal.com/audio/ <iframe title="Libsyn Player" style="border: none" src="//html5-player.libsyn.com/embed/episode/id/41952950/height/90/theme/custom/thumbnail/yes/direction/forward/render-playlist/no/custom-color/88AA3C/" height="90" width="600" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> https://assets.libsyn.com/secure/content/203736935