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The Latest Breaking News from Caixin Global

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

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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

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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%

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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%

Caixin Global

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%

Caixin Global

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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