EDM1 – Issue 396

On their bikes: Alibaba and Tencent extend their battle to China’s sharing economy as top investor sheds Ofo stake

Also: what next for Chinese scientists after cloning monkeys; China builds new rail track in just nine hours (even the Daily Mail was impressed); Wanda sell 14% of property unit to internet consortium for $5.4 billion (Tencent’s involved again)

Plus: good times return for Chinese banks as stock prices surge; German media turns hostile on China; and Jessie J’s charges huge price tag for appearing on Changsha-based singing show