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The Latest Breaking News from Caixin Global

Weekly Must-Read: China’s Mammoth Effort to Help Foreigners Spend, Spend, Spend

While scanning QR codes is the ubiquitous payment method in China, it’s not available to most foreign visitors, making it a major hassle to even buy a coffee

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Overseas Energy-Storage Projects Could Be the Answer to China’s Battery Glut, Report Argues

'Tens of thousands' of companies flooded into the sector last year, squeezing profits in the oversupplied industry, white paper says

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Provincial Energy Official Caught in China’s Coal Industry Corruption Crackdown

Wang Maosheng, deputy director of the Shanxi Provincial Energy Administration and a former executive at multiple state-owned coal companies, is being investigated for graft

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Shanghai Composite Index Rose 0.23% on Thursday

Shenzhen Component Index finished nearly flat

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President Xi Jinping Meets Ex-Taiwan Leader Ma Ying-jeou in Beijing

China’s leader calls for joint efforts to pursue peaceful reunification saying ‘There is no rancor that cannot be resolved’

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Zijin Mining Tops $65 Billion in Market Cap on Surging Mineral Prices

Zijin Mining joins top 20 of domestically listed firms as the price of gold and copper continues to surge

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Hebei Provincial Official Appointed to Communist Party’s Top Economic Body

Yan Pengcheng named deputy director at the Office of the Central Financial and Economic Affairs Commission, which leads China’s national economic work

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Battery Giant CATL Unveils More Efficient Energy Storage System

The launch of the Tianheng is a boost for the firm as it looks to expand beyond its dominant EV battery business

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Hong Kong Customs Seizes $11 Million in Gold in Record Bust

The roughly 146 kilograms of the precious metal was found during an inspection of two air compressors in a shipment bound for Japan, the authority says

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China’s Auto Exports Set Monthly Record in March

Nearly a third of the exports were new-energy vehicles, led by BYD and Tesla sales

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Foreign Minister Says China Would Support Peace Conference to Solve Ukraine Crisis

Beijing hopes to see a ceasefire soon and for both sides to come to the negotiating table, Wang Yi said at a joint press conference with his Russian counterpart

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Shanghai Composite Index Fell 0.7% on Wednesday

Shenzhen Component Index closed down 1.6%

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Former Top Regulator of Shanghai State-owned Asset Charged With Bribery

Bai Tinghui is accused of exploiting his position to illegally obtain large amounts of bribes

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Beijing Joins Other Cities in Rolling Out Support for Biopharma Firms

Measures to help cash-strapped developers with fundraising and development have been issued in places such as southern manufacturing hub Guangzhou

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China Initiates New Round of Graft Inspections on State Bodies, Financial Institutions

Top anti-graft official urges a thorough implementation of regulations in the third round of government inspections

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Former ICBC Asset Management Chief Charged With Embezzlement, Bribery

Gu Jiangang used his influence to embezzle ‘huge sums’ from the bank, and to help companies and individuals in return for ‘enormous amounts,’ prosecutors say

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Shanghai Composite Index Fell 0.72% on Monday

Shenzhen Component Index closed down 1.57%

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Property Management Firms See Profits Rise as Ties to Debt-Laden Developers Severed

Adjustment of business strategies allows property management companies to earn more than half their income from third parties

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Eight Missing After Fishing Boat, Container Ship Collide in South China Sea

The cargo vessel is operated by Hong-Kong headquartered SITC International, one of the world’s largest shipping companies

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Another Provincial Graft Buster Busted for Graft

Zhang Ping, deputy secretary of Guizhou’s discipline inspection commission, is suspected of ‘serious violations of discipline and law’

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Zeekr Upgrades Popular Model as EV Competition Heats Up in China

The carmaker, a subsidiary of auto giant Geely, has added 14-way adjustable front seats, heated rear seats, and a high-end sound system to the 007 sedan’s basic version

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Shanghai Composite Index Fell 0.18% on Wednesday

Shenzhen Component Index closed down 0.44%

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Two Ex-Executives of CNOOC Fall Amid Anti-Graft Storm

Two more industry veterans face probe as authorities target corruption in sprawling state-owned sector

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Another of China’s Former Justice Ministers Faces Graft Probe

Investigation into Tang Yijun comes after his predecessor was convicted of corruption in 2022

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Former Chairman of State-Owned Automaker Caught in Corruption Dragnet

Anhui province graft busters are investigating An Jin three years after retiring from the JAC Group

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