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The Latest Breaking News from Caixin

China Imports of Australian Coal Surge After Embargo Lifted

Purchases of the dirty fuel jumped 21% to more than 207,000 tons in February as trade tensions between two countries ease

Caixin Global

Shagang Agrees to Pay Fosun $1.97 Billion for Nangang Iron & Steel Stake

Deal for 60% of Nangang is still up in the air as Nanjing Steel has right of first refusal and other bidders may include Citic Pacific and Fangda Steel

Caixin Global

Weekly Must-Read: TikTok’s Chinese Twin Is Taking On Alibaba and Meituan for E-Commerce Market Share

Like ByteDance’s TikTok, the Douyin video sharing app deploys live-streaming in the competition for consumers in the online marketplace

Caixin Global

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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

Caixin Global

China's manufacturing accelerates as economy revives

Two surveys show China’s factory activity accelerated in February as the economy revived following the end of anti-virus controls that kept millions of people at home and disrupted travel and trade

The Independent UK

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

Caixin Global

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

Caixin Global

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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

Caixin Global

China Removes Communist Party Heads of Top State Insurer and Bank

Moves affect top executives of People’s Insurance Co. and Bank of China as they both near retirement age

Caixin Global

One of China’s top investment banks has a big problem: It can’t find its CEO

China Renaissance said it was "unable to contact" its CEO Bao Fan, sending shares plunging in Friday morning trading.

Fortune

China’s top tech dealmaker Bao Fan goes missing

The billionaire investment banker is unreachable, according to the investment bank he founded.

Al Jazeera

Developer Seazen Loses Contact With Co-President Qu Dejun

Executive who hasn’t been seen in public since Jan. 16 is said to be cooperating with authorities probing matters related to his career at Wanda Group

Caixin Global

Weekly Must-Read: Seven Things to Know About China’s Latest IPO System Overhaul

After testing the registration-based mechanism in China’s three smaller markets, regulators are now planning to roll it out to the two main boards

Caixin Global

Caixin New Economy Index Slips for Second Straight Month

The NEI fell 1.4 points to 28.3 in January as labor, capital and tech inputs declined

Caixin Global

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Bangkok Post

Southeast Asia factories fire up as China reopens

JAKARTA: Asia’s manufacturers are improving at the start of the year as the region becomes more optimistic about how China’s re-opening might help offset an otherwise gloomy outlook for the rest of the world.

Caixin Global

Following the startling suspension of its would-be record-setting $34.5 billion IPO in November 2020, the fintech company was plunged into an extensive restructuring that has been ongoing for the past two years as regulators clamp down on misconduct in the industry

Caixin Global

Chinese Authorities Seize Fake Paxlovid Anti-Covid Pills

Amid pandemic surge and short supply, counterfeit pills flood booming black market for Pfizer treatment and generics from India

Caixin Global

Ex-New China Life Chairman Has Been Unreachable Since November, Sources Say

Insurance industry veteran Wan Feng could be under investigation for how the company invested its money during his time at the helm

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Caixin Global

Weekly Must-Read: China Wraps Up Two-Year Tech Crackdown

Central bank and banking regulator’s Guo Shuqing sends first signal that sector led by Alibaba, Tencent, Didi and Meituan may finally be off the hook

Caixin Global

Caixin New Economy Index Falls on Declining Labor Inputs

The contribution of high value-added industries such as biotech came in at 29.7 last month, down 0.3 points from November

Caixin Global

Health care centers from Guangzhou to Shijiazhuang and Beijing are slammed amid surging infections and severe shortages of medical workers

Caixin Global

Weekly Must-Read: After China’s Covid U-Turn, A ‘Tsunami’ of Infected Strip Bare Pharmacy Shelves

The wave of infections raging across the country has led to a rush on common drugs such as ibuprofen, but supplies remain scant, at least for now

Bangkok Post

Shanghai shuts schools as Covid surges

SHANGHAI: Shanghai will shut most schools again from Monday, reverting to an element of China’s old coronavirus playbook as the rapid dismantling of pandemic restrictions spurs an explosion in cases.

Caixin Global

Weekly Must-Read: Covid Chaos at China’s Hospitals as Stringent Control Policy Eases

Health care centers from Guangzhou to Shijiazhuang and Beijing are slammed amid surging infections and severe shortages of medical workers

Caixin Global

Guangzhou Closes Most of Its Makeshift Covid Hospitals

The remaining facilities will be upgraded and used primarily for treating Covid patients without severe symptoms, a local medical worker says

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