The Latest Breaking News from Caixin Global

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

Shenzhen Component Index closed up 1.11%

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

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

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

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

Shenzhen Component Index closed down 0.73%

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

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