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<title><![CDATA[Wang Tao: What’s the Outlook for China’s Housing Market?]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-13/169717715841848.jpg" alt="Potential homebuyers view a residential project in Dongguan, Guangdong province on Aug. 19. Photo: VCG" referrerpolicy="no-referrer"></div><div class="cons-photo-txt">Potential homebuyers view a residential project in Dongguan, Guangdong province on Aug. 19. Photo: VCG</div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p>China’s property activities weakened notably in the second quarter and early third quarter after a short-lived rebound in the first three months of 2023, weighing on the recovery of the economy.</p>
<p>The government has been easing property policies<a href="https://https//www.caixinglobal.com/2023-07-25/china-holds-off-on-major-stimulus-as-it-signals-property-easing-102083029.html" target="_blank"><b> since November 2022</b></a>, and the Politburo set <a href="https://www.caixinglobal.com/2023-07-25/china-holds-off-on-major-stimulus-as-it-signals-property-easing-102083029.html" target="_blank"><b>a more supportive tone</b></a> in its July meeting. But how are households’ latest homebuying intentions and confidence? Are they still concerned about stalled projects and willing to repay mortgages early? What are the top factors affecting market sentiment?</p>
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<pubDate>Fri, 13 Oct 2023 13:08:23 GMT</pubDate>
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<title><![CDATA[Chinese Police Offer Rewards in Hunt for Leaders of Myanmar-Based Telecoms Scam]]></title>
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<p>Police in Yunnan and Zhejiang provinces are offering rewards of up to 500,000 yuan ($68,400) for information on two men wanted for running a telecom fraud syndicate based in northern Myanmar. </p>
<p>The men, who have Chinese mainland identity cards, have been identified as “key leaders” in the organization and operation of fraud dens targeting Chinese citizens in telecom and online scams and swindling them out of “huge sums” of money, the Ministry of Public Security’s Criminal Investigation Department said in a statement published Thursday. </p>
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<pubDate>Fri, 13 Oct 2023 12:59:58 GMT</pubDate>
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<link>https://www.caixinglobal.com/2023-10-13/chinese-police-offer-rewards-in-hunt-for-leaders-of-myanmar-based-telecoms-scam-102116568.html</link>
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<title><![CDATA[In Depth: As China Sales Slump, Global Carmakers Tap Local Ventures for EV Catch-Up]]></title>
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<p>The increasing popularity of homegrown new energy vehicle (NEV) brands among Chinese consumers has foreign auto giants sweating. As they try to rev up stalling sales in China amid a broader economic decline, some are trying an unorthodox strategy: tapping their local joint venture (JV) partners for NEV research and development. </p>
<p>International carmakers were traditionally forced to enter into JVs with local state-owned car brands in order to access the mainland market, under rules that were <a href="https://www.caixinglobal.com/2021-12-28/china-to-scrap-last-foreign-ownership-cap-on-car-manufacturing-jvs-101823209.html" target="_blank"><b>finally lifted in 2022</b></a>.</p>
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<pubDate>Fri, 13 Oct 2023 12:36:06 GMT</pubDate>
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<link>https://www.caixinglobal.com/2023-10-13/in-depth-as-china-sales-slump-global-carmakers-tap-local-ventures-for-ev-catch-up-102116599.html</link>
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<title><![CDATA[Tech Insider: China’s Green Aerospace Plans, XPeng Suspends Supply Chain Chief]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-13/169719926133450.jpg" alt="Photo: VCG" referrerpolicy="no-referrer"></div><div class="cons-photo-txt">Photo: VCG</div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p><span style="font-family:Recursive-light;">Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.</span></p>
<p><b>China draws development blueprint for aerospace industry</b></p>
<p>Four Chinese government agencies have <a href="https://www.caixinglobal.com/2023-10-13/china-issues-aerospace-plan-including-push-for-flying-cars-102116231.html" target="_blank"><b>issued a roadmap</b></a> for the development of a green aerospace manufacturing industry, aiming to put electric vertical takeoff and landing (eVTOL) aircraft into trial commercial use by 2025.</p>
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<pubDate>Fri, 13 Oct 2023 12:23:48 GMT</pubDate>
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<title><![CDATA[China Targets Wrongful Verdicts in Commercial Property Cases]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-13/169719829158674.jpg" alt="The Supreme People's Court in Beijing. Photo: VCG" referrerpolicy="no-referrer"></div><div class="cons-photo-txt">The Supreme People's Court in Beijing. Photo: VCG</div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p>China’s Supreme People’s Court (SPC) has set up a task force focused on rectifying potentially wrongful verdicts handed down in property-related cases involving private businesses and entrepreneurs, with the goal of better protecting their rights and interests under a more optimal legal environment that supports the growth of the private economy.</p>
<p>The group is led by high-level officials from the SPC, with the strengthening of oversight for retrials and appeals cases involving property rights complaints carried out in courts nationwide, according to a statement on the SPC’s website on Tuesday.</p>
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<pubDate>Fri, 13 Oct 2023 11:58:54 GMT</pubDate>
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<title><![CDATA[Weekly Must-Read: Silicon Carbide Chips Could Give Chinese EV Firms an Edge, With Beijing’s Help]]></title>
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<p><span style="font-family:Recursive-light;">The <a href="https://www.caixinglobal.com/newsletter/?utm_source=mailchimp&utm_medium=email&utm_campaign=MustRead&originReferrer=MustRead" target="_blank"><b>Caixin Must-Read newsletter</b></a> brings you the best of our coverage over the past week, handpicked by our editors. Enjoy! </span></p>
<span style="font-family:Recursive-light;"> </span><p><span style="font-family:Recursive-light;">Group access and applicable discounts are available. <a href="https://www.caixinglobal.com/groupsubs/?originReferrer=NewsletterGroupAd" target="_blank"><b>Contact us </b></a>for a customized plan.</span></p>
<p><a href="https://www.caixinglobal.com/business-and-tech/?utm_source=mailchimp&utm_medium=email&utm_campaign=MustRead&originReferrer=MustRead" target="_blank"><b><span style="color:#003399;"># Business #</span></b></a></p>
<p><a href="https://www.caixinglobal.com/2023-10-10/analysis-china-to-be-hardest-hit-by-global-coal-mine-layoffs-102115565.html?utm_source=mailchimp&utm_medium=email&utm_campaign=MustRead&originReferrer=MustRead" target="_blank"><b>Analysis: China to be Hardest Hit by Global Coal Mine Layoffs</b></a></p>
<p>The country’s coal hub Shanxi alone is projected to shed nearly a quarter of a million jobs by 2050, an industry report shows</p>
<p><a href="https://www.caixinglobal.com/2023-10-02/in-depth-silicon-carbide-chips-could-give-chinese-ev-firms-an-edge-with-beijings-help-102113830.html?utm_source=mailchimp&utm_medium=email&utm_campaign=MustRead&originReferrer=MustRead" target="_blank"><b>In Depth: Silicon Carbide Chips Could Give Chinese EV Firms an Edge, With Beijing’s Help</b></a></p>
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<pubDate>Fri, 13 Oct 2023 09:33:58 GMT</pubDate>
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<link>https://www.caixinglobal.com/2023-10-13/weekly-must-read-silicon-carbide-chips-could-give-chinese-ev-firms-an-edge-with-beijings-help-102116488.html</link>
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<title><![CDATA[Shanghai Composite Index Fell 0.64% on Friday]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2021-03-23/1616495860712442.jpg" alt="" referrerpolicy="no-referrer"></div><div class="cons-photo-txt"></div></div><p>China’s benchmark Shanghai Composite Index (<b><a href="https://www.caixinglobal.com/stock/exponent/details/106003734">000001.SH</a></b>) lost 0.64% on Friday, while the Shenzhen Component Index (<b><a href="https://www.caixinglobal.com/stock/exponent/details/106003677">399001.SZ</a></b>) fell 0.99%.</p><p>Shanghai’s tech-heavy STAR 50 Index (<b><a href="https://www.caixinglobal.com/stock/exponent/details/106011854">000688.SH</a></b>) lost 0.92% for the day, while Shenzhen’s similar ChiNext Index (<b><a href="https://www.caixinglobal.com/stock/exponent/details/106003633">399006.SZ</a></b>) fell 1.11%.</p><p></p><p>Below is a rundown of the top China business and finance stories, plus other news for the day:</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-13/eu-probe-of-chinese-steel-will-disrupt-global-supply-chains-china-warns-102116237.html">EU Probe of Chinese Steel Will Disrupt Global Supply Chains, China Warns</a></b></p><p>Commerce Ministry blasts subsidies investigation that’s expected to be part of a U.S.-EU deal to end Trump-era tariffs on European steel</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-13/nio-joins-auto-industry-rush-into-the-insurance-business-102116235.html">Nio Joins Auto Industry Rush Into the Insurance Business</a></b></p><p>EV startup acquires and rebrands Huiding Insurance Broker Co., following similar forays by BYD, Li, XPeng and traditional carmakers</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-13/chinas-two-child-policy-runs-out-of-gas-102116233.html">China’s Two-Child Policy Runs Out of Gas</a></b></p><p>Births fell 10% last year as the share of second babies declined and the third-child policy fell flat, the National Health Commission reports</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-12/in-depth-chinese-local-governments-latest-effort-to-tackle-hidden-debt-102116197.html">In Depth: Chinese Local Governments’ Latest Effort to Tackle ‘Hidden Debt’</a></b></p><p>Nine provincial-level governments plan to raise a combined $56 billion through special bonds to swap their implicit liabilities, bringing them onto the books</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-12/energy-insider-looming-coal-mine-job-cuts-chinas-green-computing-power-push-102116172.html">Energy Insider: Looming Coal Mine Job Cuts, China’s Green Computing Power Push</a></b></p><p>China-U.S. climate envoys hold virtual meetings ahead of COP28, China’s highest-altitude wind farm linked to the grid, Beijing steps up support for electric buses</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-12/in-depth-how-did-amethystum-become-a-financial-black-hole-102116162.html">In Depth: How Did Amethystum Become a Financial Black Hole?</a></b></p><p>Months after the one-time market darling got kicked off the STAR Market and authorities found fraud, unanswered questions remain</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-12/at-least-three-chinese-nationals-killed-in-israel-palestine-conflict-ministry-says-102116143.html">At Least Three Chinese Nationals Killed in Israel-Palestine Conflict, Ministry Says</a></b></p><p>China has condemned the violence against civilians amid escalating attacks and called for an immediate ceasefire</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-12/china-condemns-violence-against-civilians-middle-east-envoy-says-102116054.html">China Condemns Violence Against Civilians, Middle East Envoy Says</a></b></p><p>Zhai Jun made the comments while on a call with a senior Egyptian diplomat, as the death toll from the Israel-Palestine conflict reached over 2,200</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-12/india-detains-four-on-alleged-links-to-vivo-money-laundering-probe-102115929.html">India Detains Four on Alleged Links to Vivo Money Laundering Probe</a></b></p><p>Chinese smartphone maker is one of several tech companies caught in a crossfire amid rising competition between Beijing and New Delhi</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-12/china-tells-lenders-to-pour-money-into-car-and-consumer-credit-102115926.html">China Tells Lenders to Pour Money Into Car and Consumer Credit</a></b></p><p>Top financial regulator issues sweeping call to spur auto sales, help new college grads and bolster a broad swath of enterprises</p><p><i>Click <a href="https://www.caixinglobal.com/news/"><b>here</b></a> to read more of the latest news.</i></p><p><i>This article was generated by Caixin Automation.</i></p><p><i><a href="https://www.caixinglobal.com/app/?utm_source=articlebottom&utm_medium=appdw&utm_campaign=globalarticle"><b>Download</b></a> our app to receive breaking news alerts and read the news on the go.</i></p><p><i>Follow the Chinese markets in real time with Caixin Global’s new <a href="https://www.caixinglobal.com/stock/market/?utm_source=articlebottomashare&utm_medium=articlebottomashare&utm_campaign=asharedatabase"><b>stock database</b></a>.</i></p>]]></description>
<pubDate>Fri, 13 Oct 2023 07:03:00 GMT</pubDate>
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<title><![CDATA[EU Probe of Chinese Steel Will Disrupt Global Supply Chains, China Warns]]></title>
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<p><b><span style="color:#003399;">What’s new:</span></b> China warned that the European Union’s plan to investigate Chinese steelmakers over subsidies will disrupt global supply chains and push up costs.</p>
<p>“The EU’s practices will push up downstream production costs, affecting the interests of consumers, and are not conducive to the stability of global industrial and supply chains,” said He Yadong, a spokesman for China’s Ministry of Commerce, Thursday at a press briefing. </p>
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<pubDate>Thu, 12 Oct 2023 22:47:28 GMT</pubDate>
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<title><![CDATA[Nio Joins Auto Industry Rush Into the Insurance Business]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-12/169712579865135.jpg" alt="Nio rebranded the Hefei, Anhui-based enterprise as Nio Insurance Broker Co. Ltd." referrerpolicy="no-referrer"></div><div class="cons-photo-txt">Nio rebranded the Hefei, Anhui-based enterprise as Nio Insurance Broker Co. Ltd.</div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p>Chinese electric vehicle startup<b> Nio Inc.</b> joined the ranks of automakers venturing into the insurance business, acquiring Huiding Insurance Broker Co. Ltd. last December, according to a business registration filing. </p>
<p>Nio rebranded the Hefei, Anhui-based enterprise as Nio Insurance Broker Co. Ltd., according to a recent update to the company’s business registration. Anhui Nio Data Technology Co. Ltd., a unit of Nio, became the sole shareholder of Huiding in December 2022, according to the document. Li Bin, founder and chairman of Nio, is the controlling shareholder of Anhui Nio Data.</p>
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<pubDate>Thu, 12 Oct 2023 22:40:41 GMT</pubDate>
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<title><![CDATA[China’s Two-Child Policy Runs Out of Gas]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-13/169714106003782.jpg" alt="A new born baby at a hospital in Lianyungang, Jiangsu province, on Jan. 1, 2023." referrerpolicy="no-referrer"></div><div class="cons-photo-txt">A new born baby at a hospital in Lianyungang, Jiangsu province, on Jan. 1, 2023.</div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p>Fewer Chinese families gave birth to a second child last year, signaling the fading effects of China’s two-child policy initiated in 2016.</p>
<p>A total of 9.56 million babies were born in China in 2022, the National Health Commission said Thursday. That was down 10% from the previous year, and births are projected to continue declining despite the government’s efforts to shift away from birth restrictions to encouraging all couples to have three children.</p>
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<pubDate>Thu, 12 Oct 2023 20:21:04 GMT</pubDate>
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<title><![CDATA[In Depth: Chinese Local Governments’ Latest Effort to Tackle ‘Hidden Debt’]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-12/169710976389887.jpg" alt="Beijing is pushing ahead with plans to tackle localities’ trillions of dollars of implicit debt." referrerpolicy="no-referrer"></div><div class="cons-photo-txt">Beijing is pushing ahead with plans to tackle localities’ trillions of dollars of implicit debt.</div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p>Nine provincial-level governments across China plan to raise a combined 410 billion yuan ($56 billion) through special bonds to swap their hidden liabilities, bringing them onto the books, as Beijing pushes ahead with its plans to tackle localities’ trillions of dollars of <a href="https://www.caixinglobal.com/2023-05-22/cover-story-china-ramps-up-efforts-to-tackle-hidden-debts-102057722.html" target="_blank"><b>implicit debt</b></a>.</p>
<p>The amount of these special refinancing bonds being sold by each government varies considerably, from Qinghai province issuing 9.6 billion yuan in new notes to the Inner Mongolia autonomous region printing 106.7 billion yuan worth, according to information published as of Wednesday on ChinaBond, an official platform for bond registration. </p>
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<pubDate>Thu, 12 Oct 2023 13:50:34 GMT</pubDate>
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<title><![CDATA[Energy Insider: Looming Coal Mine Job Cuts, China’s Green Computing Power Push]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-12/169710976441937.jpg" alt="On Jan. 11, workers at Tashan Coal Mine in Datong, Shanxi province inspect coal cutters. Photo: VCG" referrerpolicy="no-referrer"></div><div class="cons-photo-txt">On Jan. 11, workers at Tashan Coal Mine in Datong, Shanxi province inspect coal cutters. Photo: VCG</div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p><span style="font-family:Recursive-light;">In this week’s Caixin energy wrap, we analyze China’s biggest climate and energy news on policy, industry, projects and more: </span></p>
<p><span style="font-family:Recursive-light;">• China’s expected coal mine layoffs in spotlight </span></p>
<p><span style="font-family:Recursive-light;">• Green push for computing power development</span></p>
<p><span style="font-family:Recursive-light;">• Highest-altitude wind farm connected to the grid</span></p>
<p><span style="font-family:Recursive-light;">• China and U.S. climate envoys hold virtual talks</span></p>
<p><span style="font-family:Recursive-light;">• Further effort to support development of electric buses</span> </p>
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<pubDate>Thu, 12 Oct 2023 11:50:15 GMT</pubDate>
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<title><![CDATA[In Depth: How Did Amethystum Become a Financial Black Hole?]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-12/169709180063921.jpg" alt="Amethystum Storage Technology’s stock was ordered to be delisted from Shanghai’s STAR Market in June 2023. Photo: VCG" referrerpolicy="no-referrer"></div><div class="cons-photo-txt">Amethystum Storage Technology’s stock was ordered to be delisted from Shanghai’s STAR Market in June 2023. Photo: VCG</div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p>Nearly five months after Chinese optical storage equipment supplier Amethystum Storage Technology Co. Ltd. was kicked out of Shanghai’s STAR Market on fraud allegations, regulators have punished company executives and arranged compensation for bleeding retail stock holders. </p>
<p>However, many questions still remain unanswered about how the one-time market darling became a financial black hole and who should be found accountable.</p>
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<pubDate>Thu, 12 Oct 2023 11:15:33 GMT</pubDate>
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<title><![CDATA[At Least Three Chinese Nationals Killed in Israel-Palestine Conflict, Ministry Says]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-12/169710232986072.png" alt="" referrerpolicy="no-referrer"></div><div class="cons-photo-txt"></div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p><b><span style="color:#003399;">What’s new</span></b>: At least three Chinese nationals have been killed in the Israel-Palestine conflict which broke out Saturday, the Ministry of Foreign Affairs confirmed Thursday. </p>
<p>Two Chinese citizens remain missing and an unspecified number have been wounded, Foreign Ministry spokesperson Wang Wenbin said during a daily press briefing. He did not reveal additional details of the victims.</p>
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<pubDate>Thu, 12 Oct 2023 10:23:31 GMT</pubDate>
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<link>https://www.caixinglobal.com/2023-10-12/at-least-three-chinese-nationals-killed-in-israel-palestine-conflict-ministry-says-102116143.html</link>
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<title><![CDATA[Shanghai Composite Index Rose 0.94% on Thursday]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2021-03-23/1616495860712442.jpg" alt="" referrerpolicy="no-referrer"></div><div class="cons-photo-txt"></div></div><p>China’s benchmark Shanghai Composite Index (<b><a href="https://www.caixinglobal.com/stock/exponent/details/106003734">000001.SH</a></b>) gained 0.94% on Thursday, while the Shenzhen Component Index (<b><a href="https://www.caixinglobal.com/stock/exponent/details/106003677">399001.SZ</a></b>) rose 0.83%.</p><p>Shanghai’s tech-heavy STAR 50 Index (<b><a href="https://www.caixinglobal.com/stock/exponent/details/106011854">000688.SH</a></b>) gained 0.73% for the day, while Shenzhen’s similar ChiNext Index (<b><a href="https://www.caixinglobal.com/stock/exponent/details/106003633">399006.SZ</a></b>) rose 0.76%.</p><p></p><p>Below is a rundown of the top China business and finance stories, plus other news for the day:</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-12/china-condemns-violence-against-civilians-middle-east-envoy-says-102116054.html">China Condemns Violence Against Civilians, Middle East Envoy Says</a></b></p><p>Zhai Jun made the comments while on a call with a senior Egyptian diplomat, as the death toll from the Israel-Palestine conflict reached over 2,200</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-12/india-detains-four-on-alleged-links-to-vivo-money-laundering-probe-102115929.html">India Detains Four on Alleged Links to Vivo Money Laundering Probe</a></b></p><p>Chinese smartphone maker is one of several tech companies caught in a crossfire amid rising competition between Beijing and New Delhi</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-12/china-tells-lenders-to-pour-money-into-car-and-consumer-credit-102115926.html">China Tells Lenders to Pour Money Into Car and Consumer Credit</a></b></p><p>Top financial regulator issues sweeping call to spur auto sales, help new college grads and bolster a broad swath of enterprises</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-11/exclusive-interview-lou-jiwei-on-tackling-a-greying-china-102115888.html">Exclusive Interview: Lou Jiwei on Tackling a Greying China </a></b></p><p>The government needs to strengthen equity in education, scrap the urban-rural dual structure, and harness actuarial science to deal with the looming pension deficit, former finance minister tells Caixin</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-11/trending-in-china-lenient-punishment-of-corrupt-retired-official-sparks-anger-102115886.html">Trending in China: ‘Lenient’ Punishment of Corrupt Retired Official Sparks Anger</a></b></p><p>76-year-old Zhong Gengci, former director of the Shenzhen transportation bureau’s freight management branch, was expelled from the party, but was not charged and still got to keep his retirement benefits</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-11/shareholders-of-imaxs-hong-kong-listed-china-unit-reject-buy-out-bid-102115862.html">Shareholders of Imax’s Hong Kong-Listed China Unit Reject Buy-Out Bid</a></b></p><p>U.S.-Canadian-based parent had sought to take full control of the subsidiary for $124 million, but one minority investor said it ‘significantly undervalues’ the China operations</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-11/xpeng-suspends-supply-chain-chief-in-internal-graft-crackdown-102115598.html">XPeng Suspends Supply Chain Chief in Internal Graft Crackdown</a></b></p><p>Vice President Li Feng becomes focus of corruption probe along with other employees amid concerns about high costs and supply shortfalls</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-11/former-chief-of-china-tobacco-yunnan-charged-with-taking-bribes-102115594.html">Former Chief of China Tobacco Yunnan Charged With Taking Bribes</a></b></p><p>Ye Libin accepted a large amount of bribes in exchange for favors, according to prosecutors leading sweeping graft crackdown in the sector</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-11/chinese-airlines-cancel-flights-to-and-from-israel-amid-gaza-war-102115592.html">Chinese Airlines Cancel Flights to and From Israel Amid Gaza War</a></b></p><p>Hainan Airlines and Cathay Pacific join American, Delta, United, Air France, KLM and Lufthansa in suspending air services</p><p><b>· <a href="https://www.caixinglobal.com/2023-10-10/hengrui-pharma-signs-licensing-deal-to-sell-cancer-drug-in-india-102115569.html">Hengrui Pharma Signs Licensing Deal to Sell Cancer Drug in India</a></b></p><p>The tie-up with local firm Dr. Reddy’s is the second overseas agreement signed by Hengrui for Pyrotinib as more Chinese drugmakers accelerate expansion into lucrative foreign markets</p><p><i>Click <a href="https://www.caixinglobal.com/news/"><b>here</b></a> to read more of the latest news.</i></p><p><i>This article was generated by Caixin Automation.</i></p><p><i><a href="https://www.caixinglobal.com/app/?utm_source=articlebottom&utm_medium=appdw&utm_campaign=globalarticle"><b>Download</b></a> our app to receive breaking news alerts and read the news on the go.</i></p><p><i>Follow the Chinese markets in real time with Caixin Global’s new <a href="https://www.caixinglobal.com/stock/market/?utm_source=articlebottomashare&utm_medium=articlebottomashare&utm_campaign=asharedatabase"><b>stock database</b></a>.</i></p>]]></description>
<pubDate>Thu, 12 Oct 2023 07:03:01 GMT</pubDate>
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<title><![CDATA[China Condemns Violence Against Civilians, Middle East Envoy Says]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-12/169709178906386.jpg" alt="" referrerpolicy="no-referrer"></div><div class="cons-photo-txt"></div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p><b><span style="color:#003399;">What’s new</span></b>: China opposes and condemns acts that harm civilians in the Israel-Palestine conflict, Beijing’s special envoy on Middle East affairs told a senior Egyptian diplomat, as the death toll from the fighting that erupted Saturday reached over 2,200.</p>
<p>In a Tuesday phone call between Chinese envoy Zhai Jun and Osama Khedr, assistant minister of the Egyptian foreign ministry’s Palestine Department, Zhai reiterated China’s call for an immediate ceasefire and expressed “deep concern” over the escalation of tensions and high civilian casualty numbers, the foreign ministry said in a statement.</p>
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<pubDate>Thu, 12 Oct 2023 06:37:48 GMT</pubDate>
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<title><![CDATA[India Detains Four on Alleged Links to Vivo Money Laundering Probe]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-11/169703807207696.jpg" alt="Guangdong province-based Vivo entered the Indian market in 2014" referrerpolicy="no-referrer"></div><div class="cons-photo-txt">Guangdong province-based Vivo entered the Indian market in 2014</div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p>Indian authorities arrested four individuals linked to China’s <b>Vivo Mobile Communications Co. Ltd. </b>on alleged links to a money laundering investigation targeting the company.</p>
<p>The detention was part of an anti-money laundering crackdown related to Vivo, according to India’s Enforcement Directorate, a financial crime-fighting agency affiliated with India’s Ministry of Finance. In July 2022, the directorate <a href="https://www.caixinglobal.com/2022-07-06/vivo-says-its-cooperating-with-indian-authorities-after-raids-101909147.html" target="_blank"><b>raided 44 offices</b></a> of Vivo and associated entities in multiple states including Uttar Pradesh, Meghalaya and Maharashtra over suspected violations of the Prevention of Money Laundering Act.</p>
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<pubDate>Wed, 11 Oct 2023 22:50:18 GMT</pubDate>
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<title><![CDATA[China Tells Lenders to Pour Money Into Car and Consumer Credit]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-12/169705945089270.jpg" alt="Car shoppers at an auto show in Huaian, Jiangsu province, on Sept. 23, 2023." referrerpolicy="no-referrer"></div><div class="cons-photo-txt">Car shoppers at an auto show in Huaian, Jiangsu province, on Sept. 23, 2023.</div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p>China’s top financial regulator urged lenders to dramatically expand lending to a broad swath of businesses, help consumers buy more cars and create consumer credit products to help new college graduates. </p>
<p>China’s economy is mired in a sustained real estate slump with weak growth and lagging consumption. The financial regulator’s sweeping call for more lending to consumers and a laundry list of industries and businesses large and small is part of the government’s ongoing effort to spur the economy.</p>
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<pubDate>Wed, 11 Oct 2023 21:23:17 GMT</pubDate>
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<link>https://www.caixinglobal.com/2023-10-12/china-tells-lenders-to-pour-money-into-car-and-consumer-credit-102115926.html</link>
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<title><![CDATA[Exclusive Interview: Lou Jiwei on Tackling a Greying China]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-11/169702046002298.jpg" alt="" referrerpolicy="no-referrer"></div><div class="cons-photo-txt"></div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p>China’s post-pandemic economic recovery is already facing short-term headwinds, but demographic changes such as a low birth rate and a rapidly aging society, along with unequal access to education, pensions and health care, pose long-term challenges for policymakers.</p>
<p>Lou Jiwei, a former finance minister and one of the most outspoken advocates of economic reform, shared his views on these issues in an exclusive interview with Caixin. Lou is a former chairman of the National Council for Social Security Fund and current president of the Society of Public Finance of China. </p>
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<pubDate>Wed, 11 Oct 2023 12:03:18 GMT</pubDate>
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<title><![CDATA[Trending in China: ‘Lenient’ Punishment of Corrupt Retired Official Sparks Anger]]></title>
<description><![CDATA[<div class="cons-photo"><div class="cons-photo-img"><img src="https://img.caixin.com/2023-10-11/169702046121115.jpg" alt="Retired official Zhong Gengci (right) was found to have abused his power while in office. His case surfaced after his granddaughter (left) flaunted the family’s wealth online in March." referrerpolicy="no-referrer"></div><div class="cons-photo-txt">Retired official Zhong Gengci (right) was found to have abused his power while in office. His case surfaced after his granddaughter (left) flaunted the family’s wealth online in March.</div></div><div id="appContent" class="cons-box" style="min-height:10;">
<p><b>What’s trending? </b></p>
<p>Netizens in China are outraged about what they view as lenient punishment handed down to a 76-year-old retired official, who was not criminally indicted after he was found to have accepted bribes, with some demanding criminal charges brought against him and the amount of his illegal gains made public.</p>
<p>Zhong Gengci, former director of the Shenzhen transportation bureau’s freight management branch who retired in 2007, was expelled from the party but got to keep his retirement benefits, albeit after being lowered to a level given to an entry-level clerk. </p>
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<pubDate>Wed, 11 Oct 2023 11:51:26 GMT</pubDate>
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