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The Latest Breaking News from Caixin Global

Alibaba Plans $640 Million Investment in Hong Kong’s Entertainment Industry

And action … Alibaba plans to spend the money on film production, copyright purchases, harnessing talent and building venues

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Former Policy Bank Executive Caught in Anti-Corruption Dragnet

Li Jiping, a retired China Development Bank executive vice president, is suspected of ‘serious violations of discipline and law’

Caixin Global

Shanghai Composite Index Fell 0.4% on Wednesday

Shenzhen Component Index closed down 0.27%

Caixin Global

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Steel Prices Extend Downward Trend Amid Sluggish Demand Recovery

Futures contracts for steel show persistent decline partly due to the Chinese New Year holiday, says expert

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China Telecom Unit to Acquire Majority Stake in QuantumCTek for $265 Million

Quantum secure communications network provider says it will use the money raised to replenish its working capital

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China Car Sales Slip in February on Lunar New Year Lull

Sales hit 1.2 million, 27% fewer than last year, as carmakers scaled back production during the eight-day holiday

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Shanghai Composite Index Fell 0.41% on Tuesday

Shenzhen Component Index closed up 0.51%

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Shanghai Composite Index Rose 0.74% on Monday

Shenzhen Component Index closed up 2.27%

Caixin Global

Red Sea Crisis Squeezes Chinese Exporters as Shipping Costs Rise, Fitch Says

Rerouting via the Cape of Good Hope is having the greatest impact on China’s exports of cars and solar modules, according to Fitch Ratings

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Xi Talks Up Importance of Sci-Tech Innovation for Military

China’s president also emphasized the need for coordinating military preparations at sea, advancing the construction of space systems and building a cyberspace defense system

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Weekly Must-Read: Nobel Laureate Economists Suggest China Tap Ordinary People’s Innovation

Michael Spence and Edmund Phelps say growth hinges on pivot from foreign trade to domestic demand

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Dubai Free Trade Zone Attracts 25% More Chinese Companies

Dubai Multi Commodities Centre hosted 852 Chinese companies at the end of 2023, lured by policies designed to attract foreign investment

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Shanghai Composite Index Rose 0.61% on Friday

Shenzhen Component Index closed up 1.1%

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Steel Mills in Yunnan Cut Production as Industry Bleeds Losses

Coordinated reduction in steel production comes as the industry is being squeezed by sluggish demand from the real estate sector

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China Adds Six More European Countries to Visa-Free List on Trial Basis

Ordinary passport holders from Switzerland, Ireland, Hungary, Austria, Belgium and Luxembourg will be able to stay for up to 15 days without a visa

Caixin Global

Huawei Smart Car Tech to Power JAC Platform for Luxury EVs

The state-owed automaker plans to produce a multipurpose vehicle on the platform

Caixin Global

Shanghai Composite Index Fell 0.41% on Thursday

Shenzhen Component Index closed down 1.37%

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There Is Room for Easing Bank Reserve Ratio, PBOC Governor Says

A weakening dollar will allow China to loosen its monetary policy without causing more capital flight, says Pan Gongsheng

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Caixin Global

Shanghai Composite Index Fell 0.26% on Wednesday

Shenzhen Component Index closed down 0.22%

Caixin Global

Faraday Future Sues Former Executive Over Alleged Trade Secret Infringement

California EV startup founded by disgraced tech founder Jia Yueting is seeking monetary damage over infringements related to its sole model, the FF91 SUV

Caixin Global

Shanghai Composite Index Rose 0.28% on Tuesday

Shenzhen Component Index closed down 0.23%

Caixin Global

For Cars, Geely Still Can’t Break With the Conventional, Chairman Says

Vehicles that run on fossil fuels will remain the preferred choice for most new buyers in the foreseeable future despite the rising popularity of EVs, Li Shufu says

Caixin Global

Shanghai Composite Index Rose 0.41% on Monday

Shenzhen Component Index finished nearly flat

Caixin Global

China Slashes Payment Barriers for Foreign Visitors

PBOC tells mobile payment services to increase the single transaction limit for foreign users to $5,000 from $1,000 to help revitalize tourism

Caixin Global

More Chinese Companies to Join FTSE Global All Cap Index

Stocks include chip designer Vanchip Tianjin Technology, biotech company MGI Tech, and brokerage Capital Securities

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