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The Latest Breaking News from Caixin Global

China’s Top Graft Buster Probes Senior Officials From Ethnic News Outlet

Central Commission for Discipline Inspection says three former and current China Ethnic News officials are suspected of ‘serious violations of discipline and law’

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Shagang Sues Fosun for Breach of Contract in $1.97 Billion Steel Sale

After China’s largest privately owned steelmaker cut a deal to buy Fosun’s 60% of Nangang Iron & Steel, Nanjing Steel together with Citic swooped in to preempt the transaction

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Top Stories of the Month: 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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Shanghai Composite Index Rose 1.14% on Friday

Shenzhen Component Index closed up 1.08%

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Weekly Must-Read: What’s Behind China’s ‘Missing’ Foreign Exchange Reserves

The mismatch in the trade surplus and foreign exchange reserve data reflects that wealth is being held increasingly by the people, not the state

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China to Pass U.S. as World’s Largest Nuclear Power Operator by 2030

With 10 project approvals last year and 24 units under construction, controversial clean energy source rebounds from a years-long post-Fukushima pause

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Ex-Hangzhou Party Chief Pleads Guilty to Taking $28 Million of Bribes

Zhou Jiangyong to be sentenced later for corruption that prosecutors said took place over 22 years

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Major Covid Outbreak ‘Unlikely’ in Near Term, Expert Says

Official data show infections nationwide remains low, with the number recorded in early April at ‘the lowest level’ since December

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China Grants Authorities More Powers to Fight Spies

Amendments to the Counter-Espionage Law will arm counter-intelligence personnel with additional tools such as access to data and property information

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Ex-Governor Named Party's Head of Human Resources

Li Ganjie, former Shandong province governor, is a nuclear safety expert and a member of the party’s powerful politburo

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Shanghai Composite Index Rose 0.67% on Thursday

Shenzhen Component Index closed up 0.28%

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ING Sues ICBC for $171 Million in Copper Deal Losses

Dutch banking giant alleges breach of contract by China’s largest bank in transactions involving copper trader Maike Metals

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Xi Affirms China’s Commitment to Restoring Peace in Ukraine in Phone Call With Zelenskyy

Beijing will send one or more special representatives on Eurasian affairs to Ukraine to talk with all parties comprehensively about a political settlement, Chinese president says

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Shanghai Composite Index Ended Nearly Flat on Wednesday

Shenzhen Component Index closed up 0.33%

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Cosco’s Egypt Terminal Project Enters Antitrust Review

Chinese shipping giant and partners Hutchison Ports and France’s CMA CGM plan to co-develop and operate a container unit at the Suez Canal

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China Maps Out Plan to Bolster Foreign Trade

State Council vows streamlined visas, faster international flight resumption and better services for trading companies in push to bolster exports

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Chinese Nationals Evacuated From Conflict-Hit Sudan

The group was taken to an undisclosed neighboring country as fighting between state and paramilitary forces rages on in the northeast African nation

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Shanghai Composite Index Fell 0.32% on Tuesday

Shenzhen Component Index closed down 1.48%

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Beijing Affirms It Respects the Sovereignty of Ex-Soviet Republics

Foreign ministry answers reporter’s question about the Chinese Ambassador to France's controversial remarks that cast doubt about the legal status of former U.S.S.R. members like Ukraine

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China Moves Step Closer to Unifying Corporate Bond Market Oversight

The country’s economic planning agency will transfer supervision of a type of corporate debt to the securities regulator over the next six months

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China Lodges Complaint About South Korean President’s ‘Erroneous’ Remarks on Taiwan

Chinese vice foreign minister conveys opposition to the nation’s ambassador about drawing parallels between the issues of Taiwan and the Korean Peninsula

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Editorial: Local Debt Discipline Cannot Be Relaxed

The principle that there should be no bailouts from the central government must be upheld

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Shanghai Composite Index Fell 0.78% on Monday

Shenzhen Component Index closed down 1.17%

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Another Shanghai Exchange Official Comes Under Graft Investigation

Liu Ti, former deputy general manager, is taken away by authorities, joining a parade of senior securities industry officials ensnared in crackdown

Caixin Global

Jack Ma Appointed Honorary Professor at the University of Hong Kong

The Alibaba co-founder will focus on conducting research in finance, agriculture and entrepreneurial innovations with the HKU faculty, with no plans for public lectures or speeches, reports say

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