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The Latest Breaking News from Caixin Global

The Starbucks challenger reported an operating profit of 1.16 billion yuan for 2022, coming off a loss of 539 million yuan the previous year

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Luckin Coffee Turns First Annual Profit

The Starbucks challenger reported an operating profit of 1.16 billion yuan for 2022, coming off a loss of 539 million yuan the previous year

Caixin Global

Caixin China New Economy Index Expands on Surge in Capital Investment

The gauge that tracks the size of high value-added industries such as biotech rose 1.2 points to 29.5 in February

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NPC Preview: Supporting Growth as the Top Priority

We expect the meeting to set the GDP growth target at ‘around 5%’ with supportive macro policies, including a higher headline fiscal deficit, small increase of new special local government bond quota and more property policy easing, the bank’s chief China economist Wang Tao says

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Shanghai Composite Index Rose 0.54% on Friday

Shenzhen Component Index finished nearly flat

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Weekly Must-Read: Why China’s Lithium Firms Have Their Sights Set on Bolivia

The South American country has the world’s largest reserves of the key EV battery raw material, but political and practical obstacles have prevented it from becoming a significant global supplier

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Henan Moves to Consolidate Struggling Steel Sector

Central China province folds Anyang Iron & Steel into newly formed Henan Steel Group and begins rationalization of fractured industry

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Shanghai Composite Index Fell 0.05% on Thursday

Shenzhen Component Index closed down 0.54%

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Huawei Spinoff Honor Takes on Apple in Europe

Chinese smartphone giant gears up to compete in the premium segment with its Magic5 series of devices

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China’s Richest Woman Takes Father’s Seat at Head of Country Garden’s Board

Yang Huiyan has been appointed chairperson of one of China’s largest property developers, succeeding the company’s retiring founder, Yeung Kwok Keung

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Shanghai Composite Index Rose 1.0% on Wednesday

Shenzhen Component Index closed up 1.11%

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China Eases Requirement of Negative Preflight Covid Tests for Some Countries

Travelers from nations including New Zealand, South Africa, Malaysia and Cambodia will still have to show a negative rapid antigen test result

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U.S. Approved 70% of China-Related Export License Applications in 2022

Agencies processed 40,000 requests with the goal of preventing advanced technology from falling into the hands of the Chinese military, according to the Department of Commerce

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China Threatens Retaliation After U.S. Sanctions Chinese Firms With Alleged Russia Ties

The foreign ministry also rejected Washington’s claims that Beijing is considering providing Russia with weapons, calling it ‘disinformation’

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news in one place.

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Caixin Global

Shanghai Composite Index Rose 0.66% on Tuesday

Shenzhen Component Index closed up 0.7%

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AI will replace simple, repetitive jobs, but those involving complexity, creativity and interpersonal skills will continue to thrive and remain the domain of humans

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Global Shipping Index Surges on China’s Recovery Outlook

Baltic Dry Index, a key leading indicator for world trade, jumps 64% in five days to highest reading since June 2020

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Lithium Prices Tumble to 12-Month Lows

The average spot price of lithium carbonate hit 392,500 yuan per ton on Friday, down 23.1% year-to-date and 31% from its record high in November

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Caixin Global

Editorial: How to Be Problem-Oriented in Institutional Reform

Reforms of governmental institutions should take into account of current economic challenges, such as shrinking demand, supply shocks and weakening expectations, and be driven by efficiency concerns and common values, including peace, development, equity, justice, democracy and freedom

Caixin Global

Shanghai Composite Index Fell 0.28% on Monday

Shenzhen Component Index closed down 0.73%

Caixin Global

China Central Bank Completes Trillion Yuan Profit Transfer to Treasury

Transfer of $162 billion to finance ministry, equivalent to around 50-basis-point cut to reserve requirement ratio, to support the economy

Caixin Global

China’s Exports May Recover in Second Half, Economists Predict

Global economic uncertainty and lingering pandemic effects still weigh on demand abroad this quarter, but stimulus should bolster domestic consumption

Caixin Global

Developers Jump on Suzhou Land Sale to Build Fancier Properties

Three parcels zoned for large apartments and houses were hot tickets in the latest auction, a sign that demand for upmarket properties in cities may rebound

Caixin Global

Shanghai Composite Index Fell 0.62% on Friday

Shenzhen Component Index closed down 0.81%

Caixin Global

Weekly Must-Read: Billionaire Founder of China Renaissance Goes Missing

China Renaissance reports being unable to make contact with its billionaire founder and chairman months after authorities took President Cong Lin into custody

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