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EXPLAINED: 43 | Vintage Vibes

Wang Yi Replaces Qin Gang as Foreign Minister

Qin Gang, who was last seen in public on June 25, has been replaced by his immediate predecessor Wang Yi, the party’s top diplomat

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Former Party Chief of Hangzhou Gets Suspended Death Sentence for Bribery

Zhou Jiangyong accepted more than $25 million for favors that included helping individuals and companies obtain project contracts and land-use rights

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Shanghai Composite Index Rose 2.13% on Tuesday

Shenzhen Component Index closed up 2.54%

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China Plans to Relax Rules on Foreign Firms Investing in Bad-Debt Managers

Removing the ban on overseas nonfinancial firms’ equity investment can help attract talent with professional experience, financial regulator says

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Two Senior Chinese Soccer Officials Caught in Sweeping Graft Dragnet

Tan Hai, a former international-level referee, and Qi Jun follow at least 11 other CFA-related officials ensnared in the latest crackdown on corruption in the sport

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Shanghai Composite Index Fell 0.11% on Monday

Shenzhen Component Index closed down 0.58%

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School Gym Roof Collapse Leaves 11 Dead in Northeast China

The incident trapped 15 people in the rubble in Qiqihar, Heilongjiang province

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China’s Solar Exports Jump 13% in First Half on Europe Demand

In the six months through June, exports of silicon wafers, cells and modules reached more than $29 billion

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Russian Airstrike in Ukraine ‘Shook’ Chinese Consulate, Ministry Says

The blast occurred in the Black Sea port city of Odessa. No one in the building was hurt

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Shanghai Composite Index Fell 0.06% on Friday

Shenzhen Component Index closed down 0.06%

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Weekly Must-Read: U.S. Sanctions Have Been Bad for Huawei, but Worse for Its Chip Design Unit

HiSilicon’s share of the global application processor market for smartphones has been bupkis for four straight quarters since April 2022, analyst report shows

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Former Telecom and Bank Executive Stands Trial for Taking $9 Million in Bribes

Li Guohua entered a guilty plea to charges of bribery and abuse of power

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Local Financial Regulatory Bodies Announce Names Changes in Sweeping Overhaul

Switch affects almost 350 local branches under the now-defunct CBIRC

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WeChat Lets Users Link Overseas Cards for Everyday Payments in China

Tencent’s ubiquitous platform now allows people from overseas with certain international bank cards to access tens of millions of merchants

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China Powers Up World’s First 16-Megawatt Offshore Wind Turbine

The country created the largest wind farm in operation by single-unit capacity after switching on the machine off the coast of Fujian province

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China Raises Overseas Borrowing Cap to Bolster Weakening Yuan

The country allows financial institutions and nonfinancial businesses to have more cross-border financing, in a move to increase the domestic forex supply

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Xi Praises Kissinger’s ‘Historic Contribution’ to U.S.-China Ties

The president met the former U.S. Secretary of State in the same villa where the veteran diplomat met then-Premier Zhou Enlai in July 1971

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Shanghai Composite Index Fell 0.92% on Thursday

Shenzhen Component Index closed down 1.06%

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Hainan Airlines Operator Plans Jet Buying Spree

Liaoning Fangda aims to expand the fleet from more than 800 to 1,000 in six years, as it attempts to turn around the former flagship carrier of bankrupt HNA Group

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Former Top Provincial Lawmaker Gets Life for Taking 1 Billion Yuan in Bribes

Sun Guoxiang, ex-deputy head of the Liaoning legislature’s standing committee, accepted money in exchange for favors that included helping companies obtain bank loans

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Shanghai Composite Index Ended Nearly Flat on Wednesday

Shenzhen Component Index closed down 0.37%

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Former Top City Prosecutor Booted From Communist Party on Graft Charges

Zhao Jianwei, based in Dalian, Liaoning province, was found to have faked a divorce, used his positions to benefit his wife’s business, and helped

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Shanghai Composite Index Fell 0.37% on Tuesday

Shenzhen Component Index closed down 0.34%

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Shanghai Composite Index Fell 0.87% on Monday

Shenzhen Component Index closed down 0.63%

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U.S. and China’s Top Diplomats Meet in Indonesia

Wang Yi, director of the party Central Committee’s foreign affairs office, says meeting with U.S. Secretary of State Antony Blinken was ‘an important step’ toward repairing ties

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