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The Latest Breaking News from Caixin Global

Weekly Must-Read: Chinese Nickel Miners in Indonesia Face Threat from Falling Prices

A decade-long rush by China-based metal producers may end

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Saudi Wealth Fund Pushes for Closer Ties with Asia

The $700 billion Saudi PFI is thinking of opening offices on the Chinese mainland and India, its governor said during a Hong Kong summit

Caixin Global

Heytea Takes Down ‘Hey Buddha’ Tea Latte After Complaints From Public

Teahouse chain withdraws controversial drink after being summoned to the Shenzhen religious affairs bureau

Caixin Global

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Shanghai Composite Index Fell 0.09% on Thursday

Shenzhen Component Index closed down 0.14%

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Self-Driving Truck Startup TuSimple Winds Down U.S. Operations

Autonomous trucking company TuSimple cuts U.S. workforce by 75% as it shifts its strategic focus to Asia-Pacific

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American Express Doubles Down for Majority Stake in China Bank Card Clearing Business

U.S. credit card giant increases investment in Chinese clearing house joint venture to tap into trillions of dollars card transactions

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China to Allow Social Security Fund to Buy Domestic Pension Products, Futures

The NSSF can also invest in more types of corporate bonds, according to draft finance ministry regulations

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Alibaba’s Home Province Issues Guidelines for Recognizing Data as Corporate Asset

Zhejiang’s recognition of data obtained from transactions or other activities and which brings economic benefits could give investors a better indication of a company’s value

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China Picks New Party Chief for Citic Group

Appointment puts Xi Guohua on track to become the state-owned financial conglomerate’s chairman

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Shanghai Composite Index Fell 0.11% on Wednesday

Shenzhen Component Index closed up 0.66%

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Shanghai Composite Index Fell 1.67% on Tuesday

Shenzhen Component Index closed down 1.97%

Caixin Global

WuXi Biologics Plunges on Concerns over Cooling Biotech Market

Leading Chinese drug company estimates $100 million net loss in 2023 as biotech funding slows and Covid related income falls

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Xi to Meet EU Leaders in Beijing for First In-Person Summit in Four Years

The meeting on Thursday will be chaired by Premier Li Qiang, European Council President Charles Michel and European Commission President Ursula von der Leyen, foreign ministry says

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Shanghai Composite Index Fell 0.29% on Monday

Shenzhen Component Index closed down 0.62%

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news in one place.

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Former Provincial Political Advisor Pleads Guilty in $26 Million Bribery Case

Sun Yuanliang, ex-vice chairman of Liaoning’s political consultative committee, took advantage of his position to help others get loans and promotions

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Shanghai Composite Index Rose 0.06% on Friday

Shenzhen Component Index closed down 0.07%

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Shanghai Composite Index Rose 0.26% on Thursday

Shenzhen Component Index closed down 0.18%

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As top performers Gemdale and Vanke show signs of teetering, calls are growing for a fresh approach, with construction of public housing touted as a panacea

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news in one place.

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Caixin Global

Tesla Opens More Charging Facilities to Competitors in China

U.S. carmaker aims to leverage its extensive charging infrastructure to boost revenue, utilization rates

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Xiaomi Co-Founder Lei Jun Donates $183 Million to Wuhan University

The cash donation by the 1991 alumni marked the school’s 130th anniversary and set a record for the largest single donation in the university’s history

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Former Guangdong Prison Chief Expelled From Party for Graft

Li Jingyan has also been booted from public office for misconduct including ‘wanting to be an official as well as getting rich,’ local authorities say

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China’s HIV Infection Rates Shoot Up Among Seniors

The number of new cases of the virus in people 60 or older more than doubled from 2015 to 2019 and remains elevated

Caixin Global

Shanghai Composite Index Fell 0.56% on Wednesday

Shenzhen Component Index closed down 0.91%

Caixin Global

China Appoints New Party Chief of Top Tax Authority

Hu Jinglin, a former vice finance minister, succeeds Wang Jun at the State Taxation Administration

Caixin Global

Politburo Deliberates New Rules to Tighten Party Control Over Foreign Affairs

The top decision-making body emphasizes need to ‘strengthen the centralized and unified leadership’ of the party over foreign affairs

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