Caixin Global’s Top Stories of the Month newsletter brings you the most popular news coverage over the past month. Meanwhile, after an almost four-year pilot program, China finally expanded the registration-based IPO system to its two biggest boards in Shanghai and Shenzhen. The landmark reform is expected to trigger a new wave of IPOs in the country’s stock market, which is worth more than $10 trillion. Editorial: China’s IPO Reform: Many a Little Makes a MickleAfter a four-year pilot program, China has accelerated reform of the registration-based IPO system. RelatedChina’s Economic Activity Rebounds After Reopening# Weekend Long Read #Kai-fu Lee: The Safest and Most Endangered Jobs in a ChatGPT WorldDeveloped by OpenAI, ChatGPT has became the hottest topic in and outside the tech world.
The Caixin Must-Read newsletter brings you the best of our coverage over the past week, handpicked by our editors. # Tech #In Depth: The Sudden Reversal of the Global Chip ShortageChina has been striving to become self-sufficient in semiconductors for over a decade and accelerated its efforts when Washington placed Huawei on a trade blacklist in 2020# Cover Story #Why the Yuan Is Suddenly Gaining International TractionChina’s 13-year campaign for its currency benefits from sanctions on Russia, flight from the dollar and advanced development of digital yuan# Finance #Exclusive: Ex-Chief of China Merchants Bank Profited on CATL InvestmentsTian Huiyu, facing corruption arrest warrant, made a killing on hidden personal stakes in the bank’s early backing of the EV battery giant, sources said# Business #In Depth: The World’s No. But women make up only 5% of the 205 new members, and ethnic minority officials make up even less — 4%# Opinion #Yu Yongding: Can China Stabilize Its Economy Without Increasing Central Government Debt? China’s experience has repeatedly shown that boosting GDP growth may be a more effective way of reducing macroeconomic leverage than limiting central government debt# Gallery #Gallery: China Unveils Top Leadership# Podcast #Caixin Biz Roundup: Chinese Internet Giants Eye Global Markets in E-commerce PushChinese tech firms hunt for opportunities abroad, airlines plan more international flights amid eased Covid rules, and Hong Kong steps up efforts to restore its global statusCaixin Global’s Top Stories of the Month newsletter brings you the most popular news coverage over the past month. You may opt in now and get handpicked news coverage delivered to your inbox each month for free.4 months ago Caixin Global
Authorities, from top to bottom, convened meetings on economic development to open the new year, sending a positive signal to society. However, both decent numbers and quality matter to economic growth, so the breakthrough point should be found to target fundamental problems. It is unwise to drain the pond to get all the fish, which is also the same for economic development. Taking such convictive moves is an ideal way to stabilize market expectations and demonstrate China’s determination to reform. By implementing reform with sincerity, action and optimized macro-control policies, China is expected to enable tangible economic growth that people can really benefit from.1 month ago Caixin Global
Those trips were the first for Chinese political leaders since the onset of the Covid-19 pandemic three years ago. To cope with new local and global situations, it has become more urgent than ever to resume normal, cross-border activities in every industry of China. Gradually resuming normal cross-border activities does not mean that China is letting go of its anti-pandemic controls overnight. These measures are completely applicable to achieve the goal of restoring cross-border in-person activities and should be implemented as soon as possible. As Chinese leaders ramp up their overseas visits, we hope the country will see this as a sign to restore more face-to-face cross-border communication and activities while maintaining its online channels.4 months ago Caixin Global
Covid-19 /Cover Story: After China’s Covid U-turn, a ‘tsunami’ of infected strip bare pharmacy shelvesIn early December, shelves in pharmacies across China quickly emptied as people scrambled to stock up medicines, according to media reports, social media posts and interviews with ordinary citizens conducted by Caixin. Many have had to wait hours in line to get strictly rationed amounts of medicines, while orders placed online are taking weeks to deliver. The cause of the shortfall can be linked to the pandemic, but not for the reasons one might expect. China’s provinces send already stretched medical personnel to Beijing to battle Covid peakFINANCE & ECONOMYLiu Shouying, dean of the School of Economics at Renmin University, said China must shift away from the “wartime system” employed to combat Covid. The missed deadlines show how China’s Covid policy is again disrupting foreign trade, this time due to illnesses rather than lockdowns and other restrictions.2 months ago Caixin Global
Shaelyn Yang continues, its eventual results could have an effect on the way first responders approach homeless and mental health calls. Steve Addison said addiction, homelessness and mental health issues are not crimes, but that their complex interaction can often lead to safety issues. But Yang’s death specifically aside, there have been changes in the way calls to homeless campers are handled in the city. Those changes, Trudeau said, were responses to the symptom of the growing number of mental health crises in the city. It’s a perspective Heed shared, arguing the province needs to look at reopening the Riverview mental health hospital his own BC Liberal government closed in 2012.5 months ago Global News
Several British lawmakers, including former Prime Minister Boris Johnson, were trying to scoop up support on Friday ahead of a short, intense contest to replace Liz Truss as the nation’s leader. Truss quit on Thursday after a turbulent 45-day term, conceding that she could not deliver on her tax-cutting economic plans. The Conservative Party is holding a speeded-up race to replace her, which will see a new leader – who will also become prime minister – chosen within a week. Story continues below advertisementJohnson, who remained a lawmaker after stepping down as prime minister, has not said whether he will run, but his allies in Parliament are working to gather support. She was elected leader by the Conservatives early last month after a party election to replace Johnson.5 months ago Global News
Brandon Taylor, 17, was hit by a vehicle’s side mirror in what police said was a hit and run Monday evening. Story continues below advertisementFeeling sorry for the unknown family, Naugler watched emergency responders pack up their patient for hospital. “How do you not know from the sound of the mirror blowing up that you hit somebody? “If we have to teach him to walk again, to talk again, to bring back his memory again — we don’t know. We don’t know the intensity of the impact, but there was some severe brain damage that happened with this,” Naugler said.5 months ago Global News