By Doug Young & Rene Vanguestaine

KFC and others are fined after some of their outlets refuse to take cash. Is cash becoming an endangered species in China? And a group led by former L.A. Dodgers owner Frank McCourt assembles a bid for TikTok’s U.S. operations. Will TikTok change its mind and decide to sell?

About China Inc

China Inc by Bamboo Works discusses the latest developments on Chinese companies listed in Hong Kong and the United States to drive informed decision-making for investors and others interested in this dynamic group of companies.

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Red Avenue does resources

Red Avenue shares slump in Hong Kong trading debut

Shares of new materials maker Red Avenue New Materials Group Co. Ltd. (9607.HK; 603650.SH) fell in their trading debut on Tuesday, as the company was one of four new listings…