What's new: In a meeting Monday in Beijing, Chinese President Xi Jinping and a bipartisan U.S. Senate delegation called for easing tensions and stabilizing U.S.-China relations, state broadcaster CCTV reported. Xi said that the China-U.S. relationship is the most important bilateral relationship in the world, and how the two countries get along will determine the future of humanity. Competition and confrontation are not consistent with the trend of the times and can't fix each country's problems or address the challenges facing the world, the Chinese leader said.

https://www.caixinglobal.com/2023-10-10/xi-and-schumer-delegation-call-for-easing-us-china-tensions-102115235.html

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The U.S. cleared Samsung Electronics Co. and SK Hynix Inc. to supply U.S. chip equipment to their China factories without a separate approval process, South Korea's presidential office said Monday. The two South Korean companies received notification that the decision takes effect immediately, South Korea's presidential economic adviser Choi Sang-mok told reporters Monday at a briefing, according to the Yonhap News Agency.

https://www.caixinglobal.com/2023-10-10/samsung-and-sk-hynix-china-factories-win-us-waivers-102115237.html

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What's new: Covid-19 and flu outbreaks will alternate every half a year in Hong Kong, with the next Covid peak likely to take place in November, a medical expert from the city said. The Covid-19 epidemic has changed the influenza peak pattern in Hong Kong, delaying the city's normal summer flu season from between mid-May and late-August to between August and October, according to Ivan Hung Fan-ngai, chief of the infectious diseases division at the University of Hong Kong's department of medicine.

https://www.caixinglobal.com/2023-10-09/covid-and-flu-outbreaks-to-alternate-every-six-months-expert-says-102115206.html

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A new electric car powered by Huawei's autonomous driving technology has hit the market with a bang, attracting tens of thousands of orders in less than a month and giving the telecom-equipment giant a confidence boost as it pushes further into China's highly competitive auto market. As of Friday, more than 50,000 orders have been placed for the upgraded version of the Aito M7 SUV since it was launched on Sept. 12, said Richard Yu, chairman of Huawei's smart car unit, in a social media post Saturday.

https://www.caixinglobal.com/2023-10-09/new-huawei-tech-powered-electric-car-launches-with-a-bang-102115208.html

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Liu Liange, the disgraced former chairman of state-owned Bank of China Ltd. (BOC), has been expelled from the Communist Party after being charged with using his position for a range of private perks, an official announcement shows.

https://www.caixinglobal.com/2023-10-09/disgraced-ex-bank-of-china-chairman-expelled-from-party-102115204.html

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China has called for an immediate ceasefire between Palestinian and Israeli armed groups, after a surprise attack from Hamas on Israel and fierce clashes around the Gaza Strip left at least 1,100 people dead and thousands more wounded. In a foreign ministry statement Sunday, Beijing reiterated its support for a two-state solution — establishing an independent state of Palestine alongside the state of Israel — calling it the 'fundamental way out of the conflict.'

https://www.caixinglobal.com/2023-10-09/china-calls-for-ceasefire-as-casualties-mount-in-israel-gaza-conflict-102115180.html

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The revision of the Public Security Administration Punishments Law has concluded its public consultation phase. Data from the official National People's Congress (NPC) website reveals that over 99,000 individuals have provided online feedback, culminating in more than 126,000 suggestions. The consultation window, spanning from Sept. 1 to 30, saw over 70,000 suggestions in just eight days. Within less than half a month, nearly 100,000 individuals have made suggestions online, contributing to a total of 114,000 comments.

https://www.caixinglobal.com/2023-10-09/editorial-the-practice-of-open-door-legislation-must-continue-102115085.html

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China's local government debt has been seen as a looming crisis. Following the central government's recent pledge to comprehensively resolve local government debt issues, the anxious markets experienced a temporary reprieve. It's anyone's guess how big the problem is. After China's 4 trillion yuan ($556.4 billion) stimulus plan in 2008, local debt began to escalate dramatically. Through the establishment of thousands of local financing platforms, local debt, starting from around 5 trillion yuan, has soared to over 100 trillion yuan in a span of 15 years.

https://www.caixinglobal.com/2023-10-03/opinion-how-to-fix-chinas-local-government-debt-crisis-102113962.html

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Real estate sales in China increased in September from the previous month following efforts by some of the country's biggest cities to spur homebuying. Last month, new property sales by China's 100 largest developers grew 17.9% from August to 404.3 billion yuan ($55.4 billion), following two straight month-on-month declines, according to data provided Saturday by consultancy China Real Estate Information Corp. (CRIC).

https://www.caixinglobal.com/2023-10-03/chinas-real-estate-market-gets-some-relief-in-september-on-policy-changes-102113958.html

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China has unveiled the leadership lineups of several new central agencies, including those tasked with overseeing the country's sprawling financial sector and dealing with public complaints, following a major restructuring of government and Communist Party institutions. Just last month, reports from business groups revealed that Liu Zhao, a former vice minister of public security, had been appointed head the discipline inspection group at the Social Work Department of the party's Central Committee, which is responsible for better handling public complaints.

https://www.caixinglobal.com/2023-10-02/china-lines-up-leaders-for-new-agencies-in-wake-of-major-personnel-reshuffle-102113851.html

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U.S. lawmakers have warned Ford Motor Co. that the automaker has until Friday to turn over documents related to its $3.5 billion electric vehicle (EV) battery plant under construction in Michigan that will use Chinese technology, or face potential consequences such as appearing before Congress. The warning is just the latest setback in Ford's partnership with Contemporary Amperex Technology Co. Ltd. (CATL) (300750.SZ), the world's largest EV-battery maker. Amid controversy over the plan, Ford said on Sept.

https://www.caixinglobal.com/2023-10-02/ford-plant-that-will-use-catl-battery-tech-draws-ultimatum-from-us-lawmakers-102113844.html

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Refueling a traditional gas-powered car is as simple as filling its tank with one of a handful of flammable liquids. Electric vehicles (EVs) need more sophisticated infrastructure. Though some have cells that can be swapped quickly at battery stations, most require a plug-in charging pile, as well as time, to replenish them. Enter silicon carbide, or SiC, a material almost as hard as diamonds that is rarely found in nature. It was patented late in the 19th century as Carborundum, and first manufactured for use as an abrasive for grinding and polishing hard surfaces.

https://www.caixinglobal.com/2023-10-02/in-depth-silicon-carbide-chips-could-give-chinese-ev-firms-an-edge-with-beijings-help-102113830.html

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Activity in China's manufacturing sector expanded in September for the second straight month, despite a softening job market and a continuing decline in export orders, a Caixin-sponsored survey showed Sunday. The Caixin China General Manufacturing Purchasing Managers' Index (PMI), which gives an independent snapshot of the sector, slid to 50.6 in September from 51 the previous month. An index reading above 50 signals an expansion in activity, while a number below that indicates a contraction.

https://www.caixinglobal.com/2023-10-01/chinas-manufacturing-grows-on-stronger-domestic-demand-caixin-pmi-shows-102112969.html

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Activity in China's services sector in September grew at the slowest pace in nine months, with sluggish job market expansion and subdued business confidence serving as drags, a Caixin-sponsored survey showed Sunday. The Caixin China General Services Business Activity Index, which provides an independent snapshot of operating conditions in industries such as retail and tourism, dropped for a second straight month, to 50.2 from 51.8 in August. A reading above 50 indicates an expansion in activity, while a number below signals a contraction.

https://www.caixinglobal.com/2023-10-01/china-services-growth-slows-to-a-crawl-caixin-pmi-shows-102113341.html

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What's new: More than 20 million trips were made across the nation's rail network on the first day of the Golden Week holiday which began Friday, a record for a single day, according to state media, as travel surged during this year's longer-than-usual break. The Ministry of Transport is expecting some 490 million trips to be made by rail, air, roads and waterways during the holiday , marking an average daily increase of 78.6% compared to last year's Golden Week, Xinhua News Agency reported . The number is almost on par with the over 500 million passenger trips recorded by the Ministry of Transport in 2019.

https://www.caixinglobal.com/2023-09-30/china-rail-travelers-surge-to-record-as-long-holiday-kicks-off-102113623.html

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The world's largest steel producer, China Baowu Steel Group Corp. (China Baowu), has announced its new general manager, as the state-owned behemoth undergoes transformation amid falling demand from property construction and pressure to cut carbon emissions. Hou Angui, who was serving as China Baowu's vice general manager, has been promoted to general manager and deputy party secretary of the group, according to an article published on the company's official WeChat account Thursday.

https://www.caixinglobal.com/2023-09-30/china-baowu-steel-names-company-veteran-as-new-general-manager-102113634.html

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At the United Nations Climate Change Conference (COP27) held in Sharm El Sheikh, Egypt, last November, a significant milestone was achieved with the establishment of the Loss and Damage Fund. However, conference attendees only made limited progress in boosting global ambitions in the fight against climate change. This development reflected the current priorities of governments, corporate strategies, and the challenges inherent in pursuing climate goals within a framework of multiple objectives. For China, the journey to attain its 'dual carbon' goals is a complex endeavor that necessitates carefully charted paths to ensure energy security and mitigate the impact on regions and communities affected by the transition.

https://www.caixinglobal.com/2023-09-30/weekend-long-read-enabling-market-driven-pathways-for-net-zero-ambitions-102113605.html

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China is looking to relax its rules on cross-border data transfers, issuing draft provisions that experts say would essentially create 'a whitelist' that exempts qualifying foreign companies from the stringent policies that have become a burden to some of those operating in China. The Cyberspace Administration of China (CAC), the country's top internet regulator, released the draft rules Thursday to clarify which kinds of data would no longer need to undergo a security review before being transferred abroad.

https://www.caixinglobal.com/2023-09-29/five-things-to-know-about-chinas-relaxed-draft-rules-on-cross-border-data-transfers-102113533.html

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What's new: U.S. National Security Advisor Jake Sullivan thanked the Chinese government for its help with the return transit of Travis King, the American soldier who crossed into North Korea two months ago. Sullivan made the remarks as he announced King's return in a White House statement on Wednesday. He also thanked the Swedish government, which serves as the 'protecting power for the U.S. in North Korea.'

https://www.caixinglobal.com/2023-09-29/us-thanks-china-for-its-help-with-transit-of-soldier-who-ran-off-to-north-korea-102113535.html

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What's new: Organizers of the Canton fair Thursday reported a significant increase in registrations for the October version of China's biggest twice-yearly trade exposition. Registrations jumped 23.5% from the spring expo, and the number of buyers from the Belt and Road region surged 33.6%, Chu Shijia, secretary general of the event and the head of the China Foreign Trade Center, said at a press conference.

https://www.caixinglobal.com/2023-09-29/chinas-fall-canton-fair-expects-a-surge-in-attendance-of-buyers-102113456.html

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China Evergrande Group Chairman Hui Ka Yan has been subject to mandatory measures due to suspicion of crimes, the company confirmed Thursday in a regulatory filing. The beleaguered property developer said it received notification from authorities, according to the statement to the Hong Kong stock exchange. It didn't disclose details on what the measures are or what crimes are suspected.

https://www.caixinglobal.com/2023-09-29/evergrande-chairman-hui-ka-yan-falls-under-investigation-102113458.html

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UBS Group AG is looking to further expand its presence in China, a market that remains important to the company, CEO Sergio Ermotti told Caixin during his first trip to China since the Swiss banking giant took over troubled rival Credit Suisse Group AG in June. 'We have been a pioneer [in China] and we want to continue to play a role of a leader here, particularly now — after the acquisition of Credit Suisse, we are definitely moving up a further level in terms of breadth and capabilities that I'm sure will serve us well in China,' he said in an interview with Caixin in Beijing on Monday.

https://www.caixinglobal.com/2023-09-28/exclusive-ubs-committed-to-china-sees-opportunities-after-credit-suisse-deal-102113390.html

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What's new: The Ministry of Civil Affairs has sent a team of investigators to look into alleged violations by the China Charities Aid Foundation for Children (CCAFC), which was recently implicated in a fraud scandal involving more than 10 million yuan ($1.37 million) from the parents of sick children. The team has moved into the foundation, one of the country's most respected charities, to conduct a 'thorough' investigation, according to a statement published by the ministry on Wednesday.

https://www.caixinglobal.com/2023-09-28/china-childrens-charity-probed-in-14-million-fraud-scandal-102113336.html

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China will set up a temporary control zone in the southwestern province of Yunnan to restrict movements of people in a region along the border with Myanmar in an effort to combat rampant telecom fraud committed by Chinese nationals lured to the Southeast Asian nation. From Oct. 1 to the end of the year, individuals and vehicles entering the 'strict border control zone' in Tengchong city will be registered and checked upon arrival, according to a Wednesday statement from Baoshan, which has jurisdiction over the area.

https://www.caixinglobal.com/2023-09-28/chinas-yunnan-to-limit-myanmar-border-crossings-to-counter-telecom-fraudsters-102113375.html

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What's new: Former deputy central bank governor, Fan Yifei, has been officially charged with bribery by public prosecutors, state media reported, with alleged crimes dating back almost three decades. Prosecutors in Huanggang, Hubei province said Fan had assisted others in getting loan financing, business contracts and job transfers and accepted 'a particularly large amount' of assets in return, according to a Wednesday report from state-owned Xinhua News Agency.

https://www.caixinglobal.com/2023-09-28/ex-china-deputy-central-bank-governor-charged-with-bribery-102113381.html

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In this week's Caixin energy wrap, we analyze China's biggest climate and energy news on policy, industry, projects and more: • Solar exports soar to 'record high' • Sichuan plans to be 'world class' battery hub • Mega offshore LNG terminal officially launched • Government considers new power regulations • Two agencies join force for carbon accounting

https://www.caixinglobal.com/2023-09-28/energy-insider-china-solar-exports-hit-record-high-sichuan-aims-to-become-world-class-battery-hub-102113373.html

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What's new: President Xi Jinping has called for the development of higher-level pilot free trade zones (FTZs) centered on innovation and aligned with global trade rules, state media reported. The construction of pilot FTZs has been a key strategic move of the Communist Party's Central Committee to promote reform and opening-up in the new era, Xi said, according to a report from the state-run Xinhua News Agency.

https://www.caixinglobal.com/2023-09-28/xi-calls-for-higher-level-pilot-free-trade-zones-102113347.html

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What's new: Chinese battery-materials maker Ningbo Shanshan Co. Ltd. (600884.SH) said that it is planning to invest as much as 1.28 billion euros ($1.35 billion) in a new project in Finland, to expand its overseas presence and meet a growing demand. The project, undertaken by subsidiary Shanghai Shanshan Lithium Battery Material Technology Co. Ltd., will involve the construction of a facility capable of producing 100,000 tons of lithium-ion battery anode materials a year, according to a stock exchange filing dated Wednesday.

https://www.caixinglobal.com/2023-09-28/chinese-battery-materials-maker-to-invest-135-billion-in-finnish-plant-102113352.html

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The government of China's Inner Mongolia autonomous region plans to issue 66.3 billion yuan ($9 billion) of refinancing bonds Oct. 9 to pay off debts owed to businesses, authorities said Monday. It will be the first borrowing by a local government to make overdue payments to private businesses in response to a State Council directive Sept. 20. China's cabinet ordered state-owned enterprises (SOEs) and provincial-level governments to pay their debts to businesses.

https://www.caixinglobal.com/2023-09-28/chinas-inner-mongolia-to-borrow-9-billion-to-pay-bills-owed-to-businesses-102113047.html

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China should strengthen its health information surveillance systems and build up public health systems at the primary care level to better prepare for future disease outbreaks, the World Health Organization's (WHO) representative to China said. In an interview with Caixin on Sept. 8, Martin Taylor, the new WHO representative who arrived in China in July, said gathering open source data, including information from social media, could help track the severity of outbreaks and improve the effectiveness of the responses.

https://www.caixinglobal.com/2023-09-27/whos-new-china-rep-says-tighten-disease-surveillance-expand-primary-care-to-tackle-outbreaks-102112979.html

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