EDM 1 – Issue 477

Looking long-term: Chinese firms are setting the pace in facial recognition – but a setback as Megvii delays IPO

Also: Pinduoduo targets Alibaba with Amazon tie-up; two tech giants are taking flak for employee firings; and why another round of bond defaults is rattling investors 

Plus: milk firm Feihe fires back at short-seller cash claims; Popeyes plans to take on KFC with 1,500 new Chinese outlets; and China Merchants steams ahead with overseas ports push