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The Latest Breaking News from Caixin

Weekly Must-Read: As Mass Covid Testing Becomes China’s New Normal, Debate Grows Over Who Pays

National Healthcare Security Administration says local medical insurance funds shouldn’t be used for large-scale programs

Caixin Global

Caixin New Economy Index Drops on Shrinking Capital Investment

The share of 10 high value-added industries in China’s total economic inputs came in at 28.5% in May, slightly lower than the reading in April

Caixin Global

Exclusive: Davos Photo Used by U.S. Congressman to Criticize China Didn’t Show Anyone Chinese

Figures accused of not standing up during an ovation for the Ukrainian president’s speech at the World Economic Forum were actually from the Vietnamese delegation

Caixin Global

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Chinese Banking Watchdog Says It’s Looking Into Rural Lenders Who Froze Online Services

The police have started an investigation into one shareholder of the village banks on suspicion it raised public funds illegally

Caixin Global

Texas Instruments Denies Firing Staff as Shanghai Microcontroller Unit Disbanded

Global semiconductor giant is reassigning staff to other units amid a dwindling market share, chip experts say

Caixin Global

Weekly Must-Read: Five Things to Know About China’s Draft Rules on Local Financial Institutions

Draft regulations to strengthen supervision may be difficult to enforce and could even put unnecessary burdens on market participants, experts say

Caixin Global

Shrinking Capital Investment Drags Down Caixin New Economy Index

The share of high-value added industries in China’s overall economic inputs dropped to 28.8% in April from 30.6% the previous month, the NEI shows

Caixin Global

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China manufacturing output drops to lowest level in 2 years

The figures come as Beijing doggedly pursues a zero-Covid response leading to lockdown measures in several cities.

Al Jazeera

Top Stories of the Month: Shanghai’s Rocky Road to Rebooting

China’s financial, logistics and manufacturing giant struggles to get back on its feet as Covid lockdowns snarl logistics and restrict the workforce

Caixin Global

Weekly Must-Read: Three Things to Know About China’s New Futures Law

The new framework comes as the country has opened the market to greater overseas participation

Caixin Global

Several Major Chinese Banks to Cut Deposit Rates

A handful of major bank branches in Beijing have said that they will lower upper limit on interest rates for some fixed deposits by around 10 basis points, Caixin has learned

Caixin Global

Shanghai erects metal barriers in fight against COVID-19

Volunteers and low-level government workers in Shanghai have erected metal barriers in multiple districts to block off small streets and entrances to apartment complexes, as China hardens its strict “zero-COVID” approach in the metropolis

The Independent UK

Weekly Must-Read: The Disrupted Lifelines of the Shanghai Outbreak

How the city’s Covid flare-up is throwing a wrench into the gears of China’s business engine as 25 million residents struggle to meet basic needs

Caixin Global

Ping An Unit Looks to Beef Up Private Pension Business With Fresh Funds, Sources Say

Ping An Annuity Insurance is seeking $1.6 billion from its parent, as it aims to further develop a business central to China’s plans to change how people save for retirement

Caixin Global

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Caixin Global

Top Automaker SAIC Moves to Resume Production in Shanghai

Preparations after three weeks of Covid lockdowns focus on ensuring personnel and supply chains with virus-control measures

Caixin Global

Weekly Must-Read: China Slashes Quarantines for Travelers in Covid Control Trial

International arrivals will face 10 days of isolation instead of 14 in four-week test involving Shanghai, Guangzhou and six other cities

Reuters

China trying out reduced quarantine for some groups in eight cities - media

China is trying out reduced quarantine times for overseas arrivals and close contacts of positive cases in eight cities, in a potential easing of some of the world's most stringent pandemic entry controls, financial media outlet Caixin reported.

Reuters

Shanghai vows punishment for COVID lockdown violators as cases hit 25,000

China's commercial capital, Shanghai, warned on Wednesday that anyone who violates COVID-19 lockdown rules will be dealt with strictly, while also rallying citizens to defend their city as its tally of new cases rebounded to more than 25,000.

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Benzinga

Cancer Drug Maker BeiGene Takes Action to Mitigate Delisting Risk

Key Takeaways: BeiGene has switched auditors for its New York listing to a U.S. company from a Chinese one in a move to comply with U.S. law The change could reduce the company’s threat of being forcibly delisted from the Nasdaq By Doug Young

Caixin Global

Beijing Vows to Accelerate Implementation of New Overseas IPO Rules

Head of securities regulatory body says channel of overseas listings will be kept ‘unclogged’ after Chinese companies shelved foreign listings, raising the ire of investors

Caixin Global

Weekly Must-Read: China Turns to Credit Easing to Kick-Start Sluggish Economy

Credit demand has been declining while the rapid recovery from Covid-19 has begun to stutter

Caixin Global

China’s Home Sales Plunge 47% Despite Government Support

Top 50 Chinese property developers report first-quarter debacle during peak selling season amid pandemic shutdowns and rising consumer pessimism

The Independent UK

Asian shares mostly gain after upbeat finish on Wall Street

Shares in Asia have advanced as gains carry over from an upbeat finish last week on Wall Street

Caixin Global

Weekly Must-Read: China’s Battle to Stabilize Its Economy

Alarming Covid outbreaks, surging commodity prices and the triple pressures of shrinking demand, disrupted supply and weakening expectations all threaten Beijing’s 2022 growth target

Caixin Global

Baoneng Chairman Yao Zhenhua Is Not Missing, Despite Court Statement

Debt-laden property and financial services conglomerate posts a picture of Yao at a Shenzhen factory in response to court declaration his whereabouts were unknown

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