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The Latest Breaking News from Caixin Global

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

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Shanghai Composite Index Fell 1.4% on Friday

Shenzhen Component Index closed down 1.19%

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Weekly Must-Read: TikTok’s Chinese Twin Is Taking On Alibaba and Meituan for E-Commerce Market Share

Like ByteDance’s TikTok, the Douyin video sharing app deploys live-streaming in the competition for consumers in the online marketplace

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China Elects New Head of Legislature

Zhao Leji, the Communist Party’s No. 3 official, will take the helm of the NPC for the next five years, while Li Hongzhong and Ding Zhongli were appointed vice chairs of its standing committee

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Xi Jinping Reelected as China’s President

Lawmakers also declared Han Zheng as vice president of the country, replacing Wang Qishan who had been in the position since 2018

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Covid Vaccinations Cost China $21.5 Billion Over Two Years

National Healthcare Security Administration reports on condition of the national health insurance fund, which still has $618 billion

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Opinion: Why Did China Revamp Its Overseas IPO Rules?

The new framework’s main concerns include national security and Chinese stocks’ reputation

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Shanghai Composite Index Fell 0.22% on Thursday

Shenzhen Component Index closed down 0.16%

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China ‘Is Open’ to a Visit by U.S. Commerce Secretary

Ministry of Commerce cites importance of dialogue in response to comment by Gina Raimondo in an interview

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China Home Prices Stabilize After Falling for Seven Months

The average price of new homes in 100 major cities remained unchanged last month from January

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New Leader Takes Over as Chief of Staff of China’s Military Command

Liu Zhenli attends meeting as head of the Joint Staff Department of the Central Military Commission, state media reports

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Wang Tao: Takeaways From China’s Government Work Report

UBS has upgraded its GDP growth forecast for the country to 5.4% for 2023 and 5.2% for 2024

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Shanghai Composite Index Fell 0.06% on Wednesday

Shenzhen Component Index closed down 0.09%

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China’s Auto Exports Surge 43.2% in First Two Months

New-energy vehicles lead a $13.91 billion charge as BYD, SAIC and Nio step up efforts in foreign markets, notably Western Europe and Southeast Asia

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Caixin Global

China Plans to Create Vast New Financial Regulator

The new body will absorb the CBIRC and oversee all parts of the financial industry other than securities, State Council proposal says

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Sequoia China Affiliate SCEP Applies for QFII Status

The unit seeks to access the mainland via Beijing’s Qualified Foreign Institutional Investor program

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Shanghai Composite Index Fell 1.11% on Tuesday

Shenzhen Component Index closed down 1.98%

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PBOC to Keep Yuan Steady Against the Dollar, Yi Gang Says

The central bank chief promises to maintain a market-driven approach following the currency’s increasingly wide swings in recent years

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Editorial: To Boost Confidence, Actions Speak Louder Than Words

Strong implementation of reform policies is pivotal to restoring the private sector’s confidence and stabilizing its expectations

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China Green Bulletin: Chinese Lithium Firms Have Bolivia in the Crosshairs

The South American country has the world’s largest reserves of the key EV battery raw material, but political and practical obstacles have prevented the nation from becoming a significant global supplier

Caixin Global

Shanghai Composite Index Fell 0.19% on Monday

Shenzhen Component Index closed down 0.08%

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