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The Latest Breaking News from Caixin Global

Shagang Agrees to Pay Fosun $1.97 Billion for Nangang Iron & Steel Stake

Deal for 60% of Nangang is still up in the air as Nanjing Steel has right of first refusal and other bidders may include Citic Pacific and Fangda Steel

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China’s Excavator-Makers Unearth Growing Business Abroad

Exports of the construction equipment rose 14.9% in the first two months of the year, overtaking the domestic market

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Opinion: Internationalizing the Yuan Is Not Easy, but China Is Pulling Out All the Stops

Beijing is using policy support, a large financial market, stable currency value and increasing exchange rate flexibility to make the renminbi a currency of choice in global markets

Caixin Global

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Shanghai Composite Index Rose 0.55% on Wednesday

Shenzhen Component Index finished nearly flat

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Bohai Bank Slapped With $2.5 Million Fine for 12 Violations

In Bohai’s third fine this year, central bank imposes penalties for breaking rules on deposit reserves, credit scoring and anti-money laundering

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Three Bidders Fight for Minsheng Securities’ Shares in Auction

As debt-laden Oceanwide Holdings offers 30% Minsheng stake for $827 million to cover a $291 million default, bidders include Soochow Securities and Zheshang Securities

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China to Resume Issuing Range of Visas to Foreigners

Authorities are seeking to restore cross-border travel to pre-pandemic levels as the country emerges from under its strict ‘zero-Covid’ regime

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Shanghai Composite Index Fell 0.72% on Tuesday

Shenzhen Component Index closed down 0.77%

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Editorial: Freedom and Openness Are at the Heart of Sci-Tech Innovation

It is crucial to follow the objective patterns of science and technology development, and guide talent to achieve their true potential

Caixin Global

Opinion: Are More Diverse Themes on the Horizon for Hollywood Films Featuring Asians?

The Oscar sweep of ‘Everything Everywhere All at Once’ makes the case that Asian-fronted Hollywood films can move beyond stereotypical plots revolving around martial arts and material wealth

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China Green Bulletin: A Fracturing Global EV Supply Chain

Chinese EV and battery-makers are bracing for a sweeping restructuring of the global lithium industrial chain long dominated by China

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China’s Health Commission Invites Expert Opinions on Egg Freezing

A potential policy shift to allow unmarried women to freeze their eggs is under discussion as the country faces falling birth rates and an unprecedented population drop

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Shanghai Composite Index Rose 1.2% on Monday

Shenzhen Component Index closed up 0.55%

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

Caixin Global

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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Caixin Global

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

Caixin Global

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

Caixin Global

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

Caixin Global

Opinion: Why Did China Revamp Its Overseas IPO Rules?

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

Caixin Global

Shanghai Composite Index Fell 0.22% on Thursday

Shenzhen Component Index closed down 0.16%

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