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The Latest Breaking News from Caixin Global

China’s Car Sales Slow as Price War Disrupts Market

Passenger vehicle sales may be slightly up from a year ago, but figures are still lower than the same period in 2021, new industry data shows

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Editorial: A Shared Understanding of ‘Competition’ and ‘Cooperation’ Will Better Serve China-U.S. Relations

It is crucial for the two countries to mark where both competition and collaboration begin and end to prevent their relationship from spiraling

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Six Killed in South China Kindergarten Attack

A 25-year-old male suspect has been arrested in connection with the ‘intentional assault’ in Lianjiang, Guangdong province, authorities say

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Chinese Auto Exports Forecast to Surge in 2023 Amid Crowded Local Market

Shipments will jump 40% to more than 4 million vehicles, industry expert says

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Former Provincial Finance Chief Falls Under Graft Probe

Chen Jixing, a retired official nicknamed Guangdong province’s ‘God of Fortune,’ is suspected of ‘serious violations of discipline and law,’ a common euphemism for corruption

Caixin Global

Shanghai Composite Index Rose 0.22% on Monday

Shenzhen Component Index closed up 0.5%

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Central Bank Slaps Hefty Fines on Three Major Financial Institutions

Ping An Bank, Postal Savings Bank and PICC Property and Casualty penalized for violations including customer protection, data collection and risk management

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Ex-Chinese Central Banker Probed for Suspected Graft

Zhang Jianjun, who served as president of the PBOC’s Shenzhen branch, is under investigation for suspected severe violations of law and Communist Party discipline

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Shanghai Composite Index Fell 0.28% on Friday

Shenzhen Component Index closed down 0.73%

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Weekly Must-Read: China Mulls Scrapping Fixed Household Gas Rates as Winter Shortages Loom

Prices set by the market could reduce distortions caused by upstream price spikes, but the change will have other costs

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Trending in China: Coco Lee’s Death Sparks Calls for Support for People With Depression

Debate on mental health emerges a hot topic on social media, after the singer was revealed to have suffered from depression for years

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Chinese EV-Battery Maker SVOLT Breaks Ground on Thai Factory

The firm expects to complete the facility this year, following a handful of Chinese EV-makers that have also expanded into the Southeast Asian country

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Shanghai Composite Index Fell 0.54% on Thursday

Shenzhen Component Index closed down 0.55%

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More Shenzhen Office Space Goes Begging for Tenants

Vacancy rate in prime office buildings tops 24.5% and rents plunge amid a weak environment and a glut of space

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Caixin Global

China’s Summer Travel Forecast to Surpass Pre-Covid Levels

The volume of trips made via train and air is expected to top 2019 numbers, according to official estimates, in a positive sign for China’s domestic consumption recovery

Caixin Global

Iran Becomes Full Member of Shanghai Cooperation Organization

The Middle Eastern country is the ninth member of the economic and security bloc

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Shanghai Composite Index Fell 0.69% on Wednesday

Shenzhen Component Index closed down 0.91%

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China’s WeRide Cleared for Nationwide Road Test in UAE

Autonomous vehicle startup wins first nationwide clearance to test self-driving autos in the Middle Eastern nation

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Caixin Global

U.S. Treasury Secretary to Visit Beijing

Janet Yellen will arrive for a four-day trip on Thursday, less than three weeks after Washington’s top diplomat Antony Blinken visited in June

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Chinese Lidar Developer RoboSense Sets Hong Kong IPO in Motion

BYD-backed firm is the latest in a spurt of mainland-based auto tech startups to file for listings in the financial hub

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Editorial: How to Lessen the Impact of Systemic Uncertainty on Entrepreneurs

Addressing the concerns of businesspeople would help inject more certainty into an environment in need of the innovation and risk-taking they provide

Caixin Global

Shanghai Composite Index Rose 1.31% on Monday

Shenzhen Component Index closed up 0.59%

Caixin Global

JPMorgan Asset Management (China) Names New Head

Desiree Wang, a finance industry veteran with more than 23 years of experience, joined JPMAM in 2008 after stints at BlackRock and ICBC

Caixin Global

Citic Guoan Wins Contract to Develop Bolivian Lithium Deposits

Chinese state-linked conglomerate will work with the South American country in the mining, refining, processing and sale of the key battery material

Caixin Global

Top City Legislator Pleads Guilty to Taking 94 Million Yuan in Bribes

Prosecutors found that Chen Jiadong, former director of the Standing Committee of the People’s Congress of Xiamen, also committed crimes that altogether cost the state more than 190 million yuan

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