Caixin

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Caixin Media Company Ltd. (Chinese: 财新传媒) is a Beijing-based media group providing financial and business news and information through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin Media publishes four magazines, Century Weekly, China Reform, Comparative Studies and Caixin - China Economics & Finance.

Company structure[edit]

The Editor-in-Chief is Hu Shuli, a former Knight Fellow in journalism at Stanford University. Previously, Hu founded Caijing magazine. Yang Daming acts as deputy chief editor, and Wang Shuo is managing editor. The business side is headed by Daphne Wu as executive president.[1]

History[edit]

Caixin Media was established in January 2010, created subsequent to the departure of Hu Shuli and the majority of the editors and reporters at Caijing Magazine in November 2009.[2] The original staff of Caixin Media is entirely employees that left Caijing.

Caixin’s flagship publication, Century Weekly, was first published under Caixin Media on 4 January 2010.[3] Although said to have been created amidst rivalry with the magazine's former staff,[4] it has been billed as the new benchmark for Chinese media.[5]

China Purchasing Managers Index[edit]

"The Caixin PMI is a closely-watched gauge of nationwide manufacturing activity, which focuses on smaller and medium-sized companies, filling a niche that isn't covered by the official data."

— CNBC January 3, 2016

In August 2015, Caixin Media Co Ltd announced that the China Purchasing Managers' Index (PMI) had declined to 51.5.[6] This was the beginning of a decline that continued into December 2015. , PMIs are economic indicators derived from monthly surveys of companies is produced by the financial information firm, Markit Group, which compiles the survey and conducts PMIs for over 30 countries worldwide. From 2010 to 2015 HSBC had sponsored Markit's China PMI, but that relationship ended in June and Caixin stepped in.[7]

Since China is the world's largest metal consumer and producer,[8]:11 and " the world’s second largest economy",[9] the China PMI is closely watched.[7][8][10]

When Caixin PMI came in weaker in late December 2015 fresh fears over China's economic growth were triggered and markets around the region responded.[11] China's CMI had fallen to 48.2 from 48.6 in November, 48.3 in October, 50.5 in September and 51.5 in August.[8][10]

On Friday, January 1, 2016 The Guardian reported that China's factory activity continued to decline, overseas demand for goods fell and export orders for Chinese manufacturers fell.[9] Stock markets which had already responded by mid-December with "metals [experiencing] a broad-based drop on the weakness of manufacturing activity in China,.[8]

Board of Trustees[edit]

To ensure independent journalism, Caixin has set up a Board of Trustees composed of respected intellectuals and academics that are independent of Caixin’s board of directors and management, and have the final say in setting editorial principles, as well as the appointment or dismissal of the editor-in-chief.

Chairman of Board of Trustees

Wu Jinglian: Research Fellow for the Development Research Center of the State Council

Trustees

Xie Ping: Professor of the PBC School of Finance at Tsinghua University

Qian Yingyi: Dean of the School of Economics and Management at Tsinghua University

Xu Hong: Professor of the School of Journalism and Communication at Peking University

Xiao Meng: Executive Editor of Comparative Studies Magazine

Advisor of Board of Trustees

Lawrence H. Summers: Economist and former U.S. Treasury Secretary

References[edit]

  1. ^ Ramzy, Austin (10 November 2009). "China's 'Most Dangerous Woman' Gets a New Forum". TIME. Retrieved 2 January 2010. 
  2. ^ "From Caijing to Caixin – Don't Die Before You're Dead". The China Times. 16 October 2009. Retrieved 28 February 2010. 
  3. ^ Coonan, Clifford (13 January 2010). "Crusading editor fights new war on censorship". The Independent World. Retrieved 2 January 2010. 
  4. ^ Huang Jingjing (5 January 2010). "Rivalry surrounds controversial editor". Global Times. Archived from the original on 7 July 2011. Retrieved 2 January 2010. 
  5. ^ Canaves, Sky; Feng, Sue (7 January 2010). "Hu Shuli's New Magazine Venture". The Wall Street Journal. Retrieved 2 January 2010c. 
  6. ^ "China Caixin Services Purchasing Managers Index (PMI)". Investing.com. Retrieved 29 March 2017. 
  7. ^ a b Yao, Kevin (30 June 2015). Raybould, Alan, ed. "Caixin to take over China Markit PMI sponsorship from HSBC". Beijing. Retrieved 4 January 2016. 
  8. ^ a b c d "OPEC Monthly Oil Market Report – December 2015" (PDF). OPEC. 15 December 2015. p. 107. Retrieved 4 January 2016. 
  9. ^ a b Allen, Katie (1 January 2016). "Slowdown in Chinese manufacturing deepens fears for economy: Factory activity cools for fifth month running as overseas demand for Chinese goods continues to fall". The Guardian. Retrieved 4 January 2016. 
  10. ^ a b "Caixin China General Services PMI", Caixin Purchasing Managers’ Index, retrieved 4 January 2016 
  11. ^ Shaffer, Leslie (3 January 2016). "Weak Caixin PMI revives China slowdown fears". CNBC. Retrieved 4 January 2016. 

External links[edit]