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Sep 26, 2024 | 
caixinglobal.com | Lin Jinbing
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China’s central bank has cut its main policy rate and financial institutions’ reserve requirement ratio (RRR) to step up support for an economy hamstrung by a prolonged property sector slump and sluggish consumer confidence.
The People’s Bank of China (PBOC) reduced the seven-day reverse repo rate from 1.7% to 1.5% Friday, according to a statement by the monetary authority.
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Jun 1, 2024 | 
caixinglobal.com | Lin Jinbing
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The current stabilization of bilateral military relations is “hard-earned” and should be “cherished,” Chinese Defense Minister Dong Jun told his U.S. counterpart Friday.
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Jun 1, 2024 | 
caixinglobal.com | Lu Chen |Lin Jinbing
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China is “hardly able” to attend the Ukraine peace summit in Switzerland due to significant differences between the meeting’s arrangements and China’s principles, as well as international expectations, a Chinese foreign ministry spokesperson said.
“China … has informed relevant parties of our consideration and concerns,” Mao Ning said in a press conference Friday.
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Apr 18, 2024 | 
caixinglobal.com | Lin Jinbing |Qing Na
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Fan Yifei, a former deputy governor of China’s central bank, has pleaded guilty to accepting more than 386 million yuan ($53.3 million) in bribes over a period of three decades, a court said Thursday in a statement.
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Apr 5, 2024 | 
caixinglobal.com | Hua Ang |Lin Jinbing
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Danish biotech giant Genmab AS has agreed to acquire ProfoundBio Inc. for a hefty $1.8 billion, in another sign of foreign pharma’s growing interest in Chinese or Chinese-founded biotech firms.
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Feb 7, 2024 | 
caixinglobal.com | Kelsey Cheng |Lin Jinbing
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Wu Qing, a deputy chief of Shanghai’s Communist Party committee, has been named chairman of China’s top securities regulator amid a protracted stock market rout.
The 58-year-old financial veteran has taken over the reins of the China Securities Regulatory Commission (CSRC) from Yi Huiman, who led the commission for five years, the state-run Xinhua News Agency reported Wednesday.
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Dec 18, 2023 | 
asia.nikkei.com | Lin Jinbing
China's game developers have recorded a second straight year of decline in overseas sales as their expansion continues to encounter challenges such as evolving privacy regulations. Actual sales revenue from China's self-developed games in overseas markets dropped 5.7% to $16 billion this year, according to data released on Friday by the China Audio-video and Digital Publishing Association, an industry group. The decline is steeper than the 3.7% decrease in 2022.
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Dec 16, 2023 | 
caixinglobal.com | Lin Jinbing
SenseTime Group Inc. co-founder Tang Xiao’ou passed away due to illness on Friday night, the Chinese artificial intelligence (AI) giant said in a social media post.
The 55-year-old executive director of SenseTime was primarily responsible for designing its research and innovation strategies, according to the Hong Kong-listed company’s 2022 annual report.
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Dec 16, 2023 | 
caixinglobal.com | Lin Jinbing
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China’s game developers have recorded a second straight year of decline in overseas sales, as their expansion continues to encounter challenges such as evolving privacy regulations.
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Nov 28, 2023 | 
caixinglobal.com | Lin Jinbing
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China’s GDP is expected to “achieve the 5% growth target for the whole year,” central bank Governor Pan Gongsheng said Tuesday, citing an economic recovery that has continued to gain momentum.
