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The Latest Breaking News from Caixin Global

China, Mongolia Officials Agree to Tackle Hazardous Dust Storms

Beijing’s head of Asian affairs and the Mongolian ambassador to China decide the two countries should work to combat sandstorms, desertification and climate change

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Shanghai Composite Index Fell 1.95% on Friday

Shenzhen Component Index closed down 2.28%

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Weekly Must-Read: China’s First-Quarter GDP Grows 4.5% on Pick-Up in Consumption, Industrial Production

The figure beats expectations and surpasses the 2.9% growth rate for the fourth quarter, when the country was still sticking to its stringent ‘zero-Covid’ policy most of the time

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Former Shanghai Electric Chief Tried for Taking $22.6 Million in Bribes

Zheng Jianhua accused of embezzlement, abuse of power and accepting bribes over 18 years

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Chinese First-Quarter Mortgage Borrowing Jumps 50%

Homebuyers take advantage of lower rates in another signal that policies to bolster the property market are kicking in

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Meituan Muscles In on Livestreaming E-Commerce With Inaugural Event

Some $12.5 million in coupons were sold during a marketing extravaganza that included an 11-hour livestream shopping show, featuring brands such as Luckin Coffee and budget boba tea chain Mixue Bingcheng

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Shanghai Composite Index Fell 0.09% on Thursday

Shenzhen Component Index closed down 0.37%

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China Pledges Support for Private Investment Projects to Issue REITs

Fundraising through publicly traded real estate investment trusts would enable private operations to carry out infrastructure projects

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Shanghai Composite Index Fell 0.68% on Wednesday

Shenzhen Component Index closed down 0.84%

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Tesla Safety Faults Contributed to Worker Fatality, Shanghai Authorities Find

Electric vehicle giant should be punished in connection with February death of worker crushed by equipment, according to investigation report

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Hospital Fire Kills 21 People in Beijing

Blaze starts around noon in eight-story inpatient wing of Changfeng Hospital in Fengtai District; cause under investigation

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Chinese Bank Trio Cut $11 Million in Bonuses to Deter Risk

China Merchants Bank, China Bohai Bank and Bank of Jiujiang withheld or recovered 77 million yuan in performance-based pay last year, sending a message to reduce risky behavior

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11 Dead in East China Factory Blaze

The fire trapped victims on the third floor of a wooden door factory in Zhejiang province, local authorities say. An investigation is underway

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Shanghai Composite Index Rose 0.23% on Tuesday

Shenzhen Component Index finished nearly flat

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Former CDB Henan Branch Head Gets 10 Years in Prison

Fu Xiaodong convicted of bribery after confessing to 22 transactions over 13 years in Henan and Ningxia

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Editorial: Don’t Blame China’s Jobless Youth Problem on the Surge in New Graduates

The source of the issue lies with the supply of jobs, which needs to be addressed by improving the economy, particularly the private sector

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Opinion: China’s Latest Financial Overhaul Marks Shift From U.S. Model, but Risks Remain

A financial system lacking commercial independence will likely become a new area of concern

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Chinese Defense Minister, Putin Discuss Deepening Military Ties

Li Shangfu tells the Russian president that Beijing is willing to continue working together on maintaining international order, during a visit to Moscow

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Shanghai Composite Index Rose 1.42% on Monday

Shenzhen Component Index closed up 0.47%

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China Has Only a Fraction of the U.S.’ Top AI Research Talent

The Asian country had 232 of the world’s best researchers in the field last year, compared with America’s more than 1,100, a recent report shows

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PBOC Chief and Fed Chair Hold First In-Person Meeting Since 2019

Central bank Governor Yi Gang also confers in Washington with G-20 officials and Bank of Japan chief amid World Bank and IMF meetings

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Weekly Must-Read: China’s EV Battery Boom Goes Bust

The rush to build up capacity as vehicle sales surged over the last few years has led to an overhang that resulted in production and job cuts, as well as falling prices

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Opinion: How Businesses Should View China in a Post-Covid World

Despite the supply chain strife of the pandemic and ongoing geopolitical tensions, industry giants are doubling down on the Asian nation as it plays an increasingly larger role in the global order

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Ex-State Asset Regulator in China’s Coal Heartland Targeted in Graft Probe

Retired provincial official Zhu Xiaoming is under investigation by local graft agencies for ‘serious violations of discipline and law’

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Opinion: A Global Transformation That Works for Everyone

The weaknesses exposed in global supply chains by the war in Ukraine and the pandemic should be treated as an opportunity to reimagine globalization

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