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The Latest Breaking News from Caixin

China's Services Growth Softens In February, Caixin PMI Shows

China's services sector experienced a growth slowdown in February, impacting economic outlook. Factors like rising costs and pandemic challenges contribute...

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China’s In Vitro Test Makers Seek Growth Overseas as Domestic Demand Dwindles

Profits have fallen for the diagnostic device manufacturers as a period of pandemic-driven sales comes to an end

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Ex-Taiping Life Boss Booted From Party for Alleged Graft

Zhang Ke, former general manager of the state-owned insurance giant, exploited his power for others in exchange for ‘huge sums’ of money, top graft buster says

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Weekly Must-Read: China’s Local Governments Paid Record $174 Billion in Bond Interest Last Year

Total is up nearly 10% from 2022, with outstanding debt climbing by 16% last year

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Rocket-Maker Says Rumored Explosion in Shanghai Was Routine Blast Test

Three employees of LandSpace Technology were injured at an industrial park in Songjiang district, the Chinese startup tells Caixin

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Extreme Weather Took Toll on North China’s Grain Output in 2023

Production fell by 2.4% in Henan last year due largely to a nonstop week of rain, while severe flooding caused a 1.4% drop in Hebei

Caixin Global

Citadel Securities Bids for Credit Suisse’s China Venture

UBS’sale will face delay as Credit Suisse’s joint-venture buyout is still awaiting approval by Chinese regulators

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China’s Economy Expands at 5.3% in 2023, Caixin Survey Shows

Chinese economy is showing signs of stabilizing after its bumpy ride following the lifting of Covid restrictions and a property slump, say economists

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China Tightens Scrutiny of LGFVs Offshore Borrowings

Regulators are trying to restrict local governments raising finance by selling bonds overseas as higher costs increase their debt repayment risks

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Former Shenzhen Mayor Admits Taking $15 Million in Bribes

Chen Rugui accepted kickbacks over two decades in exchange for favors such as help in securing projects and facilitating business operations

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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

Top Stories of the Month: Rethinking China’s Property Market Meltdown

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

Caixin Global

Weekly Must-Read: Rethinking China’s Property Market Meltdown

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

Caixin Global

Former China Securities Regulatory Official Expelled From Communist Party for Alleged Bribery

Yang Chunlei became the target of a probe when her husband Cong Lin, former president of investment bank China Renaissance, came under investigation last year

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Chinese Authorities Identify 11 Suspects in Fatal Gym Collapse

This is the second gymnasium collapse in Northeast China’s Heilongjiang province in just over three months, raising concerns about building safety in the region

Caixin Global

Caixin China New Economy Index Falls as Investment Shrinks

The gauge that tracks the size of high value-added industries such as biotech dropped to 31 in October from 31.9 the previous month

Caixin Global

Ex-Executive of Shanghai Bourse Accused of Bribery and Fake Divorce

Liu Ti, exchange’s former deputy general manager, falsified records, embezzled public assets and pursued improper gains, graft busters say

Caixin Global

Caixin China New Economy Index Rises Again on Growing Investment

The NEI increased 1.5 points in September to 31.9, marking a third straight month of growth

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Caixin Global

Exclusive: UBS Committed to China, Sees Opportunities After Credit Suisse Deal

Merged group is looking at how best to expand its presence in the country, CEO Sergio Ermotti tells Caixin in an exclusive interview

Caixin Global

Huawei Appoints Yu Chengdong as Chairman of Smart Car Unit, Sources Say

Jin Yuzhi, who has been head of the tech giant’s optical fiber business since 2019, will succeed Yu as CEO

Caixin Global

Reporters’ Notebook: A China-Backed All-Electric Race Series Could Steer the Global South’s Clean Energy Transition

The launch of the Elite World Cup is part of a broader plan by its founders to ignite the EV sector in South Africa and other developing nations

Caixin Global

Tianjin Public Transit Delays Bus Driver Salaries

Employer of 18,300 delayed wages since June, workers report, spotlighting financial strains amid years of operating losses

Caixin Global

Beijing District Scraps Price Limits on Pre-Owned Homes

Haidian district, known for prestigious schools, joins a parade of localities dropping price controls to bolster housing sales

Caixin Global

Weekly Must-Read: Why China’s Efforts to Juice Stocks Typically Don’t Last

Measures including cutting the stamp duty on trades and slowing the pace of IPOs are mostly seen as a short-term shot in the arm for sentiment

Caixin Global

Weekly Must-Read: China’s Offshore Wind Sector Gears Up for Life After Subsidies

Even as individual firms prepare to scrap for local government contracts, analysts say the sector will continue to ride the updraft

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