Caixin
Oct 28, 2022 01:23 PM
WEEKLY MUST-READ

Weekly Must-Read: The Sudden Reversal of the Global Chip Shortage

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 Shortage

China 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 Traction

China’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 Investments

Tian 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. 1 EV-Battery Maker Juices Up Global Expansion

CATL is setting up factories around the world as competition grows at home, but it will face formidable, more experienced rivals

More Chinese Private Developers Default on Debt

Huachuang Securities finds that 13 of 14 first-time defaulters in the third quarter were property companies despite a series of easing policies by government

Tesla Cuts Prices in China After Signs of Softening Demand

The EV-maker’s cuts reflect the tougher time international carmakers are having as they face increasingly competitive local rivals such as BYD, Nio and XPeng

# Chart of the Week #

U.S. Chip Restrictions Cut Deep

China is the largest market for the world’s leading American semiconductor equipment suppliers and peers from Japan and the Netherlands

 

# Economy #

Caixin Explains: How Severe Are Chinese Local Governments’ Budgetary Troubles?

Costly Covid-19 containment measures have hiked spending and the property market crisis has stunted land sales, robbing localities of a primary source of revenue, but running a deficit is typical for local governments

Beijing Calls for Local Governments to Facilitate Entry for Foreign Business Executives

The move is part of measures released by six government agencies to stabilize foreign investment

China’s Third-Quarter GDP Rebounds, Fueled by Government Stimulus

Massive state-backed infrastructure investment gives the economy a boost, with several other indicators showing muted recovery amid a persistent property market slump and sporadic Covid outbreaks

Related:

China Delays Release of Third-Quarter GDP Figures Indefinitely

# China #

China Names New Top Party Leadership for Next 5-Year Term

Four new faces join previous Politburo Standing Committee members Xi Jinping, first secretary of the party’s central secretariat Wang Huning and anti-corruption chief Zhao Leji

A Younger Generation Is Now the Majority in Communist Party’s Elite Body

For the first time, the party’s Central Committee will mostly comprised of cadres who were born in the 1960s. 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 Push

Chinese 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 status

Caixin 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.

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