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The Latest Breaking News from Caixin Global

Weekly Must-Read: Why China Set Its 2023 GDP Growth Target at ‘Around 5%

The new leadership set what many consider to be a moderate goal despite stronger-than-expected economic activity this year and a low base in 2022

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Chinese Housing Prices in Major Cities Post First Increase in 18 Months

New home prices in 70 cities rose 0.3% year-on-year in February, adding to signs of recovery from a protracted housing slump

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Former BOC Beijing Branch Head Under Corruption Investigation

Wang Jianhong caught up in graft busters’ dragnet targeting misconduct in the financial sector, where eight bankers have been punished already this year

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Shanghai Composite Index Fell 1.12% on Thursday

Shenzhen Component Index closed down 1.54%

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Ex-Regional Official Investigated in Campaign Against Graft in Health Care

Wang Zhongping, a former party chief and ex-director of the medical security bureau of Guangxi, falls under probe for ‘serious violations of discipline and law,’ authorities say

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Guolian Group Bids $1.3 Billion to Win Oceanwide’s Brokerage Stake

Wuxi-backed parent of Guolian Securities to pay 55% over asking price for 30.3% of Minsheng Securities after 162 rounds of bidding

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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

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China’s Excavator-Makers Unearth Growing Business Abroad

Exports of the construction equipment rose 14.9% in the first two months of the year, overtaking the domestic market

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Opinion: Internationalizing the Yuan Is Not Easy, but China Is Pulling Out All the Stops

Beijing is using policy support, a large financial market, stable currency value and increasing exchange rate flexibility to make the renminbi a currency of choice in global markets

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Shanghai Composite Index Rose 0.55% on Wednesday

Shenzhen Component Index finished nearly flat

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Bohai Bank Slapped With $2.5 Million Fine for 12 Violations

In Bohai’s third fine this year, central bank imposes penalties for breaking rules on deposit reserves, credit scoring and anti-money laundering

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Three Bidders Fight for Minsheng Securities’ Shares in Auction

As debt-laden Oceanwide Holdings offers 30% Minsheng stake for $827 million to cover a $291 million default, bidders include Soochow Securities and Zheshang Securities

Caixin Global

China to Resume Issuing Range of Visas to Foreigners

Authorities are seeking to restore cross-border travel to pre-pandemic levels as the country emerges from under its strict ‘zero-Covid’ regime

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Shanghai Composite Index Fell 0.72% on Tuesday

Shenzhen Component Index closed down 0.77%

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Editorial: Freedom and Openness Are at the Heart of Sci-Tech Innovation

It is crucial to follow the objective patterns of science and technology development, and guide talent to achieve their true potential

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Opinion: Are More Diverse Themes on the Horizon for Hollywood Films Featuring Asians?

The Oscar sweep of ‘Everything Everywhere All at Once’ makes the case that Asian-fronted Hollywood films can move beyond stereotypical plots revolving around martial arts and material wealth

Caixin Global

China Green Bulletin: A Fracturing Global EV Supply Chain

Chinese EV and battery-makers are bracing for a sweeping restructuring of the global lithium industrial chain long dominated by China

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China’s Health Commission Invites Expert Opinions on Egg Freezing

A potential policy shift to allow unmarried women to freeze their eggs is under discussion as the country faces falling birth rates and an unprecedented population drop

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Caixin Global

Shanghai Composite Index Rose 1.2% on Monday

Shenzhen Component Index closed up 0.55%

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China Sticks With Its Central Bank Governor and Finance Minister

The decision to avoid a sweeping leadership reshuffle in both departments comes as the country undergoes a transition to a new administration led by Premier Li Qiang

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Xi Appoints Li Qiang as China’s Premier, Succeeding Li Keqiang

In the new role, the 63-year-old former Shanghai party secretary will lead the State Council, whose responsibilities include managing the country’s economic development

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Direct Flights Resume Linking 10 Mainland Cities and Taiwan

Following three years of pandemic suspensions, the move is a step toward restoring cross-Strait travel

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Sand Engulfs Northern China

Beijing and other parts of the region have been inundated by a wave of dust and pollution blown down from Mongolia, triggering the first sandstorm warning of the year

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Wang Huning Elected Head of China’s Top National Political Advisory Body

The Communist Party’s No. 4 official replaces outgoing CPPCC chief Wang Yang

Caixin Global

Shanghai Composite Index Fell 1.4% on Friday

Shenzhen Component Index closed down 1.19%

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