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The Latest Breaking News from Caixin

Pound falls after weak UK factory data as US dollar rises – as it happened

Live, rolling coverage of business, economics and financial markets as 2025 starts with trepidation over new US administration’s trade policies, and global manufacturing sector struggles

The Guardian - UK

Weekly Must-Read: China Digs In to Boost Mining in Democratic Republic of Congo

Booming metals demand from EVs and AI dangle riches for Chinese, DRC companies

Caixin Global

35 Killed, Dozens Wounded In South China Car Ramming

A man killed 35 people and injured 43 more when he ploughed his car into those exercising around a sports centre in the southern Chinese city of Zhuhai on Monday, local police said Tuesday.

International Business Times

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Weekly Must-Read: How AstraZeneca’s China Fraud Was About More Than Greed

The British pharmaceutical giant’s falsified patients’ test results so insurance would pay for its cancer drug in an effort to boost sales, but the alleged misconduct ended up benefiting some patients

Caixin Global

Weekly Must-Read: China May Add 6 Trillion Yuan in Treasury Bonds to Buttress Economy

The issuances would take place over three years as part of its latest fiscal stimulus measures, sources tell Caixin

Caixin Global

Volkswagen considering German plant closures and job cuts; UK factories report fastest growth in over two years – as it happened

German carmaker VW may make historic German plant closures in cost-cutting drive

The Guardian - UK

China’s 30,000 Local Financial Entities Face Tougher Scrutiny

Regulatory bodies call for the elimination of these institutions that do not comply with the rules

Caixin Global

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XPeng’s Flying Car Unit Secures $150 Million Fresh Funding to Start Mass Production

Money raised will be used for R&D and to start production of the flying cars by the end of 2025, says founder

Caixin Global

Veteran Financial Regulator Charged With Bribery

An Qingsong is accused of peddling his influence and causing severe disruption in the capital markets

Caixin Global

China Commerce Ministry Official Set to Become Vice Finance Minister, Sources Say

Guo Tingting is expected to fill the position to be left by Zhu Zhongming, who was named deputy chief of Shanghai’s Communist Party committee last week

Caixin Global

Shanghai Composite Index Rose 0.09% on Monday

Shenzhen Component Index closed down 0.59%

Caixin Global

Shanghai Composite Index Rose 1.26% on Tuesday

Shenzhen Component Index closed up 1.68%

Caixin Global

Surveys show Chinese economy growing but at modest pace

Surveys of Chinese factory managers show a mixed outlook for the world's No. 2 economy, with growth steady but not picking up much steam

The Independent UK

Weekly Must-Read: China Mulls Tax System Overhaul to Ease Record Local Government Debt

Proposed reforms would shift revenue from the central government and relieve localities of some expenses

Caixin Global

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Caixin Global

Weekly Must-Read: How the EU’s New Tariff Hikes Will Affect China-Made EVs

The bloc formally notified carmakers including BYD, Geely Auto and SAIC Motor that they will be subject to additional duties of up to 38.1% from July 4

Caixin Global

CATL’s Productivity Campaign Draws Criticism Over Grueling Work Hours

EV battery titan has launched a 100-day campaign to boost productivity, leading to some employees having to work from 8 a.m. to 9 p.m., six days a week, source says

Caixin Global

Weekly Must-Read: Why Biden’s Tariffs Increases Won’t Cause China Much More Pain

Caixin Global

Boss of New China Asset Management Disappears, Sources Say

Zhang Chi has likely been detained by graft-busters

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Caixin Global

Shanghai Composite Index Fell 0.88% on Friday

Shenzhen Component Index closed down 1.23%

Caixin Global

Weekly Must-Read: China Set to Ease Controls on Genetic Resources to Plug Biotech Innovation Gap

The National Health Commission is spearheading the reform, Caixin has learned, in response to complaints that overly tough restrictions are choking innovation, particularly in the biotech and pharmaceutical sectors

Caixin Global

Shanghai Composite Index Rose 0.54% on Monday

Shenzhen Component Index closed up 0.43%

Caixin Global

SAIC Motor Rebuts Claim It Held Back Info From EU Investigators

The Chinese automaker said it fully cooperated and provided all necessary information in accordance with WTO and EU rules

Caixin Global

Huawei Moves CEO of Terminal Business to Chairman Role

Chinese tech giant names Richard Yu, who has already served as CEO of the business arm that includes smartphones and smart car solutions for 10 years

Caixin Global

While scanning QR codes is the ubiquitous payment method in China, it’s not available to most foreign visitors, making it a major hassle to even buy a coffee

Caixin Global

Weekly Must-Read: Why China’s Project Whitelists Can’t Cure Real Estate Slump

Although the lists are helping many developers secure financing to finish their projects, there may not be enough demand for new homes to soak up the extra supply, bankers warn

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