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

: Update: China’s First-Quarter GDP Growth Beats Expectations at 5.3%
While strong exports and manufacturing investment buoy the economy, weak domestic demand and an ailing property market hold growth back

: Exclusive: Star Chinese Fund Manager Prosecuted for Bribery
Cai Songsong and two other defendants appeared in court on March 27 over trading a listed company’s stock for personal gains, sources tell Caixin

Jack Ma tells employees ‘we must reform for the future’

: Charts of the Day: China On Track to Become World’s Largest Luxury Market
Sales of personal luxury goods rebounded to $69 billion last year and may double by 2030 to account for 25% of the global market

Baby Platform’s War of Words With Ex-CFO Sparks a Second Police Probe

Xu Chong says seven people linked to Hong Kong-listed BabyTree slandered him with allegations of embezzlement

Apr 16, 2024 04:15 PM

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: Gallery: Chinese Duo Brawl for UFC Women’s Gold
Zhang Weili and Yan Xiaonan went head-to-head in Las Vegas Saturday for the 2024 UFC 300 women’s strawweight title. After five grueling rounds, Zhang defended her gold belt in what was the first ever ‘China Derby’ UFC title fight. The former kung fu champion first won the golden belt in 2019. She lost it in 2021 but regained the title the following year. Zhang made her Ultimate Fighting Championship debut in 2018
Apr 16, 2024 08:12 PM

: China Sports Regulator to Get Tough on Those Who Don’t Play Fair
GAS will stiffen punishments for throwing matches, fixing competitions and other misconduct in new rules set to take effect July 1
Apr 16, 2024 07:52 PM

: China’s AI Model Developers Face Watershed Moment, Lenovo Executive Says
Vice President Song Chunyu predicts number of companies building large language models will nosedive this year as the industry consolidates
Apr 16, 2024 07:45 PM

: More Overseas Buyers Turn Out for Canton Fair in Strong Sign for Exports
China’s biggest trade fair drew more than 60,000 purchasers from abroad on its opening day
Apr 16, 2024 07:25 PM

: China’s EVs Exports Have Enriched Global Supply, Eased Inflationary Pressure, Xi Tells Scholz
Chinese president tells German chancellor their countries should ‘stay vigilant against rising protectionism’
Apr 16, 2024 07:22 PM

: Daily Tech Roundup: Li Auto Dispels Rumors of Exclusive Uzbekistan Sales Network, Clamp Down on Russia Exports
Chinese audio app Ximalaya revives Hong Kong IPO, Apple’s iPhone shipments plunge 10% as Android rivals rise
Apr 16, 2024 06:42 PM

: China Loosens Grip on Yuan by Weakening Fix Amid Dollar Strength
The PBOC broke out of a holding pattern for the managed currency with a 7.1028 per dollar fixing of the daily reference rate, implying flexibility for it to depreciate
Apr 16, 2024 05:03 PM

: Property Developer Times China Receives Winding-Up Petition in Hong Kong
Local lender Hang Seng Bank made the request in connection with financial obligations totaling about $266 million
Apr 16, 2024 04:26 PM

: Caixin Biz Roundup: EU Ramps Up Pressure on China’s Green Tech
Dutch and Indian buyers snap up Chinese solar panels, China rises in ranking of favored foreign investment destinations
Apr 16, 2024 04:15 PM

: CATL’s First Quarter Profit Climbs as Battery Dominance Pays Dividends
The Chinese firm saw net income climb 7% to around $1.5 billion, while revenue slipped 10% to some $80 billion
Apr 16, 2024 04:10 PM

: Ex-Top Legislature Official in Inner Mongolia Hit With Corruption Probe
Du Zi, former deputy chief of the regional legislature’s standing committee, is under investigation for violating party discipline and law
Apr 16, 2024 03:58 PM

: Chinese AI Firm Gunning for ChatGPT Hopes to Raise Up to $44.3 Million in Hong Kong IPO
Beijing-based Mobvoi is pricing its shares as high as HK$4.10 each
Apr 16, 2024 03:57 PM

: Shanghai Composite Index Fell 1.65% on Tuesday
Shenzhen Component Index closed down 2.29%
Apr 16, 2024 03:03 PM

: CX Daliy: Alibaba Renews Strategy Reset to Revive Growth Momentum
A Chinese insurer’s ex-chairman disappears from public view, sources say. The country’s regulator releases more measures to improve the stock market. Plus, Ximalaya revives plans for a Hong Kong IPO.
Apr 16, 2024 11:25 AM

: German Leader Warns China on Overcapacity, Echoing US Gripes
Olaf Scholz is in China to deliver a delicate message that if Beijing doesn’t heed European warnings to end discriminatory business practices, Brussels will have no choice but to escalate trade defense mechanisms
Apr 16, 2024 04:02 AM

: ‘Expensive’ India Lures Investors Avoiding China Risks
Half select India as a better bet for growth among the three Asian giants in survey of investors
Apr 16, 2024 03:56 AM

: Bubble Tea Chain ChaBaiDao Launches Largest IPO of the Year in Hong Kong
Company plans to use half the proceeds to improve capacity and strengthen the supply chain and the rest to develop digital capabilities and brand promotion
Apr 16, 2024 03:51 AM