EDM 1 – Issue 527

Screen idol: short-video app Kuaishou stars in record-setting IPO in Hong Kong

Also: why Kate Wang’s Relx is on a nicotine high (she’s worth $9bn); humbled HNA heads for the bankruptcy courts; and an exclusive Q&A with a biotech venture capitalist on her breakthrough investing to fight cancer 

Plus: Alibaba’s sales soar again despite regulatory shadows; Bytedance eyes payments business with Chinese New Year ‘red packet’ revolution; and how China’s celebrities are making their careers on the ‘reality TV circuit’