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The Latest Breaking News from Caixin Global

China Outlines Carbon Peaking Roadmap for Building Materials

Industry accounting for 13.2% of China’s carbon dioxide emissions is the first with a specific plan for meeting climate goals

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Biden and Xi to Meet at G-20 Summit in Indonesia, White House Says

Chinese and U.S. presidents’ first face-to-face talks since Biden took office are expected to address hot-button Taiwan issue and global matters, the White House says

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China to Expand Digital Health Code Use for Unified National Platform

The platform will expand on the use of digital health codes, which are not the same as the digital QR codes that track people’s Covid-related test records and travel history, an expert says

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Guangzhou Suspends Most Schools as Covid-19 Outbreak Worsens

In-person teaching will pause in eight of the South China metropolis’s 11 districts

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Shanghai Composite Index Fell 0.39% on Thursday

Shenzhen Component Index closed down 1.33%

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Country Garden Pulls Out of S&P Rating Following Downgrade

Property development giant — which hasn’t defaulted on debt — blasts S&P over score that it says doesn’t fairly reflect its true credit status

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Li Keqiang Meets Asian Leaders in Cambodia

During his trip, China’s premier will discuss regional cooperation with representatives from Southeast Asia, South Korea and Japan and pay an official visit to the host nation

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Gap Sells Money-Losing China Business to Baozun for $50 million

Chinese e-commerce services provider, a Gap partner since 2018, will get rights to design, make and sell Gap products in China

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Chinese Carmaker Zotye Denies a Battery Rumor That Saw Shares Skyrocket

Speculation the company would import a foreign-made production line to challenge CATL prompted questions from the bourse

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Inner Mongolia Chief Justice Arrested for Graft

Hu Yifeng, former president of the autonomous region’s high court, is accused of taking bribes, abusing his position and breaching regulations on the selection and appointment of officials

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Opinion: It’s Time to Get Serious About Climate Adaptation

For years warnings have focused on future disasters, but climate change is no longer a far-off threat. It’s here, affecting lives and livelihoods, writes WEF managing director

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Shanghai Composite Index Fell 0.43% on Tuesday

Shenzhen Component Index closed down 0.58%

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How to Protect Women’s Rights in China

Hundreds of millions of Chinese women are calling for better safeguards. Implementing them is integral to China’s modernization

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Shanghai Composite Index Rose 0.23% on Monday

Shenzhen Component Index closed up 0.18%

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news in one place.

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Xi Jinping Repeats China’s Commitment to Opening-Up Policy

Chinese president reaffirms support for economic globalization and expansion of trade in remarks to international import expo in Shanghai

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China Must Boost Demand and Deepen Supply-Side Reform, Liu He Says

The country needs to pursue a strategy that combines both efforts to meet changing conditions at home and abroad, vice premier says

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Lenovo’s Quarterly Revenue Falls for First Time in Two Years

World’s No. 1 PC-maker reports 4.4% drop to $17 billion due to weak global demand and depreciating yuan

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Shanghai Composite Index Rose 2.43% on Friday

Shenzhen Component Index closed up 3.2%

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news in one place.

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Caixin Global

Weekly Must-Read: Yuan Gets More International Love as Dollar Rivalry Grows

China and its trading partners are doing more business in yuan, Belt and Road investment is increasingly being funded in the Chinese currency, and ‘dim sum’ bond sales are booming

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China and Pakistan Set Up Offshore Yuan Clearing

South Asian nation becomes third country to do so this year, enabling use of Chinese currency in cross-border trade and investment

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State Railway Operator Posts Record Loss on Covid Disruptions

Red ink increases 36% for the first three quarters, and profit almost vanishes for the cash-cow high-speed Beijing-Shanghai route

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Fisher: China’s Economy Can Weather a Global Recession — if One Even Hits

History shows Chinese growth can persist despite pockets of weakness and recession elsewhere

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Shanghai Composite Index Fell 0.19% on Thursday

Shenzhen Component Index closed down 0.34%

Caixin Global

Yum China Profits Rebound in Third Quarter Amid Strong Takeout Sales

The KFC and Pizza Hut franchise operator increased quarterly revenue to $2.7 billion, while ending four consecutive quarters of declining same-store sales

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Zhongrong International Trust to Sell $367 Million of Bonds in Singapore

Borrowings through private placement are to raise funds to pay off maturing bonds for the unit of Jingwei Textile Machinery

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