Caixin Global - Latest Business and Financial News on China, U.S. Trade War and Negotiations, Breaking News, Headlines and Developments

TOP STORIES

: In Depth: Why Chinese PE and VC Firms Are Chasing Middle East Money
Firms are turning to the region’s sovereign wealth funds as it becomes increasingly difficult to raise capital from their traditional backers in China and the West

: Retired ICBC Executive Expelled From Party for Bribery, Embezzlement
An Liyan, who once ran one of the bank’s Hong Kong-based subsidiaries, used company funds for personal expenses and accepted bribes from subordinates and clients, China’s anti-graft watchdog announces

Ant Group-Backed Bank’s Bad Loan Ratio Jumps as Businesses Struggle

Indicator rises to 2.28% from 1.94%, after MYbank switched focus to business from consumer lending in the wake of government-ordered rectification of parent

: China Moves to Rein in Battery Boon Amid Overcapacity Concerns
Draft rules for lithium battery sector raise standards for energy density, lifespan and other specifications and aim to foster healthy development

Chinese Shipbuilding Giant Says Operation Not Affected by U.S. 301 Probe

State-owned shipbuilder CSSC received 353 ship orders in the first quarter and says U.S. tariffs would have a limited impact

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Caixin Biz Roundup: Musk’s Surprise Visit to China, ICBC Sets Up Militia Unit

May 03, 2024 06:38 PM

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LATEST NEWS

: Vanke to Sell Headquarters Project as It Divests Assets for Cash
Bidding starts at $305 million for the project spanning three soccer pitches, $124 million below the price Vanke paid for the plot in 2017
May 09, 2024 04:41 AM

: China’s Ganfeng Seeks Full Control of Lithium Mine in Mali
China’s lithium mining and processing giants aims to buy out partner in Goulamina project for $343 million
May 09, 2024 04:37 AM

: Gallery: Photos That Defined 2023
This year’s Pulitzer Prizes for photography recognized coverage of the Israel-Gaza War and the plight of Latin America migrants. Reuters won the breaking news photography award for its work documenting the aftermath of the Hamas attack on Israel on Oct. 7. The Associated Press won the prize for best feature photography for its coverage of Latin American migrants as they traversed harsh terrain on their way to the U.S.
May 08, 2024 08:12 PM

: Asian Nations Can Direct Colossal Savings Into New Energy, Zhou Xiaochuan Says
An incentivizing mechanism should be established to direct these countries’ vast savings to benefit the global green transition, ex-PBOC governor says at a Boao Forum conference
May 08, 2024 07:51 PM

: Xi, Macron Add Personal Touch to Chinese President’s Visit
The trip to France included sightseeing in the Pyrenees and comes as the two countries mark the 60th anniversary of diplomatic ties, with China’s leader lauding their ‘close and lasting comprehensive strategic partnership’
May 08, 2024 07:43 PM

: Saudi Arabia Willing to Work With China on Green Energy Transition
Prince Abdulaziz bin Salman Al-Saud said climate change is a global problem that no country could avoid, and that addressing its challenges requires concerted efforts from all
May 08, 2024 07:39 PM

: China New-Home Sales Sink to Five-Year Low Over Labor Day Holiday
Just over 2,100 new homes were sold in 12 major cities, a 52% drop on the same period last year
May 08, 2024 04:45 PM

: China Gold Buying Slows as Reserves Grow for 18th Straight Month
PBOC, which bought 60,000 troy ounces in April, has been steadily increasing its bullion holdings since 2022, but the precious metal’s record-breaking rally has dented demand
May 08, 2024 03:24 PM

: Shanghai Composite Index Fell 0.61% on Wednesday
Shenzhen Component Index closed down 1.35%
May 08, 2024 03:03 PM

: Saudi Arabia’s $100 Billion AI Fund Will Divest China If U.S. Asks
So far, requests have been to keep manufacturing and supply chains separate, but Alat would exit partnerships with China if they became “a problem for the U.S.,” CEO says
May 08, 2024 02:45 PM

: Samsung and LG’s New Defense Against Chinese Rivals? AI-Powered Kitchens
China’s Hisense and Haier have been growing their business at home and abroad by leaning on their strength in making inexpensive products
May 08, 2024 01:53 PM

: Elon Musk Dispatches Tesla’s ‘Fireman’ to China Amid Slowing Sales
Tom Zhu, one of the three executives named on Tesla’s website, returns to China as carmaker seeks to launch Autopilot features there
May 08, 2024 01:50 PM

: Daily Tech Roundup: ByteDance Sues U.S. Over TikTok Ban, Tesla’s China Sales Slump
SAIC Motor rebuts claim it held back info in EU probe, Meituan tops Hong Kong food delivery market after just one year
May 08, 2024 01:19 PM

: CX Daily: Why Chinese PE and VC Firms Are Chasing Middle East Money
China will further open up telecom and medical sectors to foreign investors, Xi says. The Shanghai Insurance Exchange appoints a new chief. Plus, Chinese tourists are reluctant to spend big over the Labor Day holiday
May 08, 2024 08:29 AM

: TikTok Lawsuit Sets Stage for Prolonged Legal Fight Over U.S. Ban
The lawsuit indicates that ByteDance doesn’t have any intention of trying to find a buyer for TikTok as the deadline approaches
May 08, 2024 04:48 AM

: Meituan Tops Hong Kong Food Delivery Market After Just One Year
KeeTa overtakes Foodpanda to become the top food delivery provider in Hong Kong with more than 40% of the market
May 08, 2024 04:27 AM

: Former Top Tobacco Regulator Arrested for Bribery, Power Abuse
Ling Chengxin is the highest-ranking tobacco official caught in the graft crackdown
May 08, 2024 04:11 AM