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The Latest Breaking News from Caixin Global

Hospital Fire Kills 21 People in Beijing

Blaze starts around noon in eight-story inpatient wing of Changfeng Hospital in Fengtai District; cause under investigation

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Chinese Bank Trio Cut $11 Million in Bonuses to Deter Risk

China Merchants Bank, China Bohai Bank and Bank of Jiujiang withheld or recovered 77 million yuan in performance-based pay last year, sending a message to reduce risky behavior

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11 Dead in East China Factory Blaze

The fire trapped victims on the third floor of a wooden door factory in Zhejiang province, local authorities say. An investigation is underway

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Shanghai Composite Index Rose 0.23% on Tuesday

Shenzhen Component Index finished nearly flat

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Former CDB Henan Branch Head Gets 10 Years in Prison

Fu Xiaodong convicted of bribery after confessing to 22 transactions over 13 years in Henan and Ningxia

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Editorial: Don’t Blame China’s Jobless Youth Problem on the Surge in New Graduates

The source of the issue lies with the supply of jobs, which needs to be addressed by improving the economy, particularly the private sector

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Opinion: China’s Latest Financial Overhaul Marks Shift From U.S. Model, but Risks Remain

A financial system lacking commercial independence will likely become a new area of concern

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Chinese Defense Minister, Putin Discuss Deepening Military Ties

Li Shangfu tells the Russian president that Beijing is willing to continue working together on maintaining international order, during a visit to Moscow

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Shanghai Composite Index Rose 1.42% on Monday

Shenzhen Component Index closed up 0.47%

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China Has Only a Fraction of the U.S.’ Top AI Research Talent

The Asian country had 232 of the world’s best researchers in the field last year, compared with America’s more than 1,100, a recent report shows

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PBOC Chief and Fed Chair Hold First In-Person Meeting Since 2019

Central bank Governor Yi Gang also confers in Washington with G-20 officials and Bank of Japan chief amid World Bank and IMF meetings

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Weekly Must-Read: China’s EV Battery Boom Goes Bust

The rush to build up capacity as vehicle sales surged over the last few years has led to an overhang that resulted in production and job cuts, as well as falling prices

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Opinion: How Businesses Should View China in a Post-Covid World

Despite the supply chain strife of the pandemic and ongoing geopolitical tensions, industry giants are doubling down on the Asian nation as it plays an increasingly larger role in the global order

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Ex-State Asset Regulator in China’s Coal Heartland Targeted in Graft Probe

Retired provincial official Zhu Xiaoming is under investigation by local graft agencies for ‘serious violations of discipline and law’

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Opinion: A Global Transformation That Works for Everyone

The weaknesses exposed in global supply chains by the war in Ukraine and the pandemic should be treated as an opportunity to reimagine globalization

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Shanghai Composite Index Rose 0.6% on Friday

Shenzhen Component Index closed up 0.51%

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U.S. Blacklists 12 Chinese Companies Over Alleged Russia Ties

Addition of 3HC Semiconductors, Allparts Trading, STK Electronics and others brings Chinese total on Entity List to 639

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Opinion: Sustainable Framework Needed for China’s Property Market

The country’s real estate industry has been a crucial driver of economic growth in the past two decades. Here’re some proposals to ensure its stability

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First Human Death of Common Bird Flu Strain Reported in China

The 56-year-old Chinese woman is the third person known to have been infected with the H3N8 virus

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Former China Supreme Court Official Gets 12 Years for Corruption

Meng Xiang, ex-director of the court’s enforcement bureau, was sentenced for abusing his authority in numerous positions and accepting bribes worth $3.3 million

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Shanghai Composite Index Rose 0.41% on Wednesday

Shenzhen Component Index closed up 0.05%

Caixin Global

China Utility Powers Up South American Presence With Peruvian Purchase

Under the deal, state-owned China Southern Power Grid will acquire two assets in Peru from Italy’s biggest utility Enel for about $2.9 billion

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Shanghai Composite Index Fell 0.05% on Tuesday

Shenzhen Component Index finished nearly flat

Caixin Global

Insurance Regulator Studies Risk Disposal Rules for Property Insurers

CBIRC official outlines plan to create a mechanism for market-oriented, rule-based, standardized risk reduction

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Editorial: How to Reverse the Decline in Foreign Investment in China

Holding to the principles of reform could help break a deadlock in a landmark EU investment pact that is vital to reversing the recent decline in FDI

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