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The Latest Breaking News from Caixin Global

Weekly Must-Read: Alibaba Splits Into Six Business Units in Biggest Overhaul

The $220 billion e-commerce colossus will become a holding company and grant management and financing independence to the new enterprises

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Fosun International Profit Plunges 95% in 2022

Market turmoil and Covid outbreaks almost wipe out earnings for a conglomerate also mired in a debt crisis

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Caixin Top Stories of the Month: TikTok Walks on Thin Ice Amid Western Security Fears

As the U.S., Canada and the EU torque up pressure and restrictions, ByteDance fights to avoid a government-forced spinoff of its gold mine

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China’s Short-Video App Users Top 1 Billion

The number makes up more than 70% of the total population and 95% of all internet users in the country

Caixin Global

China Chalks Up Fresh Win for Yuan Internationalization With LNG Trade

State-owned China National Offshore Oil completes purchase of more than 60,000 tons of liquefied natural gas from French giant TotalEnergies

Caixin Global

Beijing Reaffirms Taiwan Could Adopt Own Social System After Reunification

The central government would ‘fully respect’ the lifestyle of the island’s people, spokesperson says

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China’s Latest Move to Become Global AI Hub Focuses on Science Research

The government aims to drive artificial intelligence research in areas such as drug development, genetic research and biological breeding

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Shanghai Composite Index Rose 0.65% on Thursday

Shenzhen Component Index closed up 0.62%

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In Depth: New Business Comes With Old Risks for China’s Struggling Tutoring Industry

Sales of ‘learning tablets’ helped keep companies going after the crackdown on for-profit education, but looming regulation and growing competition show the shift is no cure-all

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Allianz Seeks Bigger Foothold in China’s $3.9 Trillion Mutual Fund Market

The German financial giant has applied with the CSRC to set up a wholly owned fund manager

Caixin Global

Bond Market Tumult Ravages Two Chinese Financial Majors’ Hong Kong Units

Bocom International and Guotai Junan International both report taking hits to their bottom lines for 2022

Caixin Global

Crypto Mining Platform Bitdeer Moves Step Closer to Nasdaq SPAC Listing

The deal, already delayed three times, would give the company an implied equity value of around $1.18 billion

Caixin Global

Shanghai Composite Index Fell 0.16% on Wednesday

Shenzhen Component Index closed up 0.13%

Caixin Global

GAC Aion Pulls the Plug on Smart Car Collaboration With Huawei

Automaker’s EV unit will develop its own smart car system as Huawei doubles down on a competing business model for automotive partnerships

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Caixin Global

Exclusive: Former Exim Bank Executive Pleads Guilty to Taking Bribes

Li Li, known as the ‘godmother’ of China’s shipping industry, has been charged by prosecutors with accepting almost $14.5 million in ill-gotten gains, sources tell Caixin

Caixin Global

Premier Reassures That China Remains Committed to Opening Markets

Li Qiang says the country is striving to create a ‘first-class business environment’ for foreign investors

Caixin Global

China’s Cyberspace Watchdog Takes Aim at Slander Against Businesses

The authority looks to curb the malicious spreading of false information to create a better environment for private companies and entrepreneurs

Caixin Global

Shanghai Composite Index Fell 0.19% on Tuesday

Shenzhen Component Index closed down 0.72%

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Caixin Global

Editorial: Lessons From the Collapse of Silicon Valley Bank

By taking every crisis suffered by others seriously, we can minimize our own crises

Caixin Global

Japanese Citizen Accused of Spying in China

The suspect has been subject to ‘criminal compulsory measures,’ Ministry of Foreign Affairs confirms amid reports a Japanese company employee was detained

Caixin Global

Japanese Citizen Accused of Spying in China

The suspect has been subject to ‘criminal compulsory measures,’ Ministry of Foreign Affairs confirms amid reports a Japanese company employee was detained

Caixin Global

China Extends Tax and Fee Cuts for Some Businesses

The extensions are expected to reduce the amount of taxes and fees levied on businesses by more than $70 billion a year while they remain in effect

Caixin Global

Former Brazilian Leader Elected President of Multilateral Bank NDB

Dilma Rousseff will helm the Shanghai-headquartered New Development Bank, which was set up to finance projects in emerging markets and developing countries

Caixin Global

Shanghai Composite Index Fell 0.44% on Monday

Shenzhen Component Index closed up 0.12%

Caixin Global

Macao-Based Blockchain Asset Exchange Starts Trial Operation

Micro Connect is aimed at helping China’s micro and small businesses raise funds from global investors

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