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The Latest Breaking News from Caixin Global

Xiaomi Co-Founder Lei Jun Donates $183 Million to Wuhan University

The cash donation by the 1991 alumni marked the school’s 130th anniversary and set a record for the largest single donation in the university’s history

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Former Guangdong Prison Chief Expelled From Party for Graft

Li Jingyan has also been booted from public office for misconduct including ‘wanting to be an official as well as getting rich,’ local authorities say

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China’s HIV Infection Rates Shoot Up Among Seniors

The number of new cases of the virus in people 60 or older more than doubled from 2015 to 2019 and remains elevated

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Shanghai Composite Index Fell 0.56% on Wednesday

Shenzhen Component Index closed down 0.91%

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China Appoints New Party Chief of Top Tax Authority

Hu Jinglin, a former vice finance minister, succeeds Wang Jun at the State Taxation Administration

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Politburo Deliberates New Rules to Tighten Party Control Over Foreign Affairs

The top decision-making body emphasizes need to ‘strengthen the centralized and unified leadership’ of the party over foreign affairs

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Shanghai Composite Index Rose 0.23% on Tuesday

Shenzhen Component Index closed up 0.49%

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China to Offer Private Firms Bigger Helping Hand

Seven government agencies and one business group release 25 measures to provide greater financing to the sector

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China, Japan, South Korea Foreign Ministers Agree to Work on Reviving Leaders’ Summit

China’s Wang Yi also urged the three nations to restart negotiations on free trade agreements at a meeting in Busan Sunday

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Shanghai Composite Index Fell 0.3% on Monday

Shenzhen Component Index closed down 0.55%

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China Adds Six Countries to 15-Day Visa-Free Program

Beijing plans to include France, Germany, Italy, Malaysia, the Netherlands, and Spain in the program on a one-year trial basis

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China Announces Measures to Fight Wave of Respiratory Infections in Kids

State Council orders strengthened health surveillance in schools and increased vaccinations for at-risk groups

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Shanghai Composite Index Fell 0.68% on Friday

Shenzhen Component Index closed down 0.94%

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Weekly Must-Read: Rethinking China’s Property Market Meltdown

As top performers Gemdale and Vanke show signs of teetering, calls are growing for a fresh approach, with construction of public housing touted as a panacea

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Cabinet Vows Support to SMEs Traded on Beijing Bourse

State Council urges banks to boost lending to small and medium-sized businesses; cabinet aims to promote Beijing financial services, business on Beijing stock exchange

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China’s Innovative Startups, Tech Firms Need More Financial Help, Regulators Say

Monday’s meeting also calls for better information-sharing to improve understanding of technology

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Maersk Strikes Deal With Chinese Firm to Buy Methanol for Green Vessels

Xinjiang Goldwind will supply the Danish container shipping giant with 500,000 tons a year of the fuel from a new plant in Inner Mongolia

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Financial Sector Has Potential to Better Serve China’s Real Economy, Lawmakers Say

There is still much room for the industry to sacrifice profits for the sake of the real economy, a statement from the national legislature says

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Shanghai Composite Index Rose 0.6% on Thursday

Shenzhen Component Index closed up 0.78%

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Zhongzhi Declares Itself ‘Severely Insolvent’ as Debt Soars to $65 Billion

Audit shows debt of 420-460 billion yuan, double its assets of 200 billion yuan; conglomerate sees significant risk to ongoing operations

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U.S. Draws Fewer Chinese Students, Report Says

Mainlanders studying in America fall 0.2% in the 2022-2023 school year, in large part because fewer are pursing an undergraduate education in the country

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Former Deputy Provincial Party Chief Gets 14 Years for Graft

Zhang Jinghua, ex-deputy secretary of Jiangsu province’s party committee, accepted around $7 million in bribes to help others win contracts and promotions

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Shanghai Composite Index Fell 0.79% on Wednesday

Shenzhen Component Index closed down 1.41%

Caixin Global

Boss of Game Livestreamer DouYu Detained by Police

DouYu founder and Chairman Chen Shaojie detained on Nov. 16 in Chengdu; DouYu says no word on reason for detention

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Premier Li Takes Helm of China’s Top Financial Regulator

The Central Financial Commission is responsible for top-level design, coordination and supervision of the sector

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