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The Latest Breaking News from Caixin Global

Year in Review: China’s Struggle to Contain Covid Hits the Economy Hard

Lockdowns added to the country’s woes, including an ongoing housing slump and fading exports, but Beijing’s year-end pivot to living with the virus raises the prospect of a recovery in 2023

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China’s Ambassador to the U.S. Named Foreign Minister

Qin Gang replaces Wang Yi, who had served in the position since 2013

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Top Stories of the Month: Covid Chaos at China’s Hospitals as Stringent Control Policy Eases

Health care centers from Guangzhou to Shijiazhuang and Beijing are slammed amid surging infections and severe shortages of medical workers

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Kweichow Moutai Sees Earnings Beat for 2022

The Chinese liquor giant predicts a 19.3% increase in net profit for the year, higher than the average analyst forecast of 18.8%

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Senior Provincial Official Pleads Guilty to Graft and Flouting Crypto Ban

Xiao Yi, a former political advisor and party chief in Jiangxi, received more than $18 million worth of bribes

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Shanghai Composite Index Rose 0.51% on Friday

Shenzhen Component Index closed up 0.18%

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Weekly Must-Read: After China’s Covid U-Turn, A ‘Tsunami’ of Infected Strip Bare Pharmacy Shelves

The wave of infections raging across the country has led to a rush on common drugs such as ibuprofen, but supplies remain scant, at least for now

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Cash-Strapped Chinese Developer Sells $1.8 Billion of Assets to State-Owned Rival

China Fortune Land will transfer its shares and creditor rights in four subsidiaries located in the country’s south to China Resources Land

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Shanghai Composite Index Fell 0.44% on Thursday

Shenzhen Component Index closed down 0.13%

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China Appoints New Taiwan Affairs Office Head

Seasoned diplomat Song Tao’s responsibilities include formulating policies on the island, coordinating related legal affairs, and managing cross-strait business and cultural affairs

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China Drops Covid Curbs on International Flights

Civil aviation regulator confirms government plan to scrap all pandemic limits as of Jan. 8, including quarantines, testing and capacity caps

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China to Drop Outbound Travel Restrictions With End of ‘Zero Covid’

Beijing will resume processing passport applications and issuing Hong Kong visas in January, when it will downgrade Covid-19’s infectious disease classification

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Shanghai Composite Index Fell 0.26% on Wednesday

Shenzhen Component Index closed down 0.86%

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Over 20 Chinese Developers Plan Share Sales as Ban Ends

Seven companies including Risesun Real Estate Development publish preliminary offer details

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China Scraps Covid Curbs on Ports, Foreign Ship Crews

Restrictions will end Jan. 8 as country abandons its `zero-covid’ strategy

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Shanghai Composite Index Rose 0.98% on Tuesday

Shenzhen Component Index closed up 1.16%

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Editorial: Private Enterprise Matters to China’s Reform Drive

Firms in the private sector have contributed more than 50% of the country’s tax revenue, 60% of GDP and 70% of technological innovation

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Shanghai Composite Index Rose 0.65% on Monday

Shenzhen Component Index closed up 1.19%

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news in one place.

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Two Former Executives of P2P Lending Platform Sentenced to 20 Years in Prison

Tuandai.com’s former chairman and former general manager also fined $13.2 million as court sentences 47 people convicted in fundraising fraud

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Tech Insider: Xiaomi President to Step Down, TuSimple Plans to Cut Staff by 25%

Hackers threaten to blackmail Nio, EV-maker launches urban-navigation system in Shanghai

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Opinion: Why China’s Covid Health Codes Should Be Abandoned

Three experts weigh in on why authorities ought to scrap the once ubiquitous code and whether the underlying technology can be harnessed for other uses

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Shanghai Composite Index Fell 0.28% on Friday

Shenzhen Component Index closed down 0.25%

Caixin Global

Weekly Must-Read: Why China’s Exports Are in the Doldrums

Demand has fallen off in recent months in the country’s three biggest markets, though the reasons vary by region

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TuSimple Slashes Workforce 25% in Sweeping Restructuring

Driverless truck startup will focus on R&D and on providing self-driving technologies to other transport companies

Caixin Global

Silicon Wafer Prices Fall as China Solar Supply Glut Looms

The average prices of two key types of the solar panel component each dropped by 10% or more in the past week

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