Caixin
Chinese financial media group
Last updated October 9, 2026
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Overview
Caixin Media is a Chinese media group headquartered in Beijing and best known for business, financial, economic, and investigative journalism. The organization was established in January 2010 by journalist Hu Shuli after she and most of the editorial staff of Caijing magazine left that publication in late 2009 following disputes with its controlling organization over editorial direction, sensitive current-affairs reporting, and employment matters. Caixin inherited much of Caijing's journalistic culture and personnel, but developed as a separate media company under Hu's leadership. The group publishes Chinese-language news and analysis through Caixin Weekly, its website, mobile applications, and other digital products. Its coverage spans macroeconomics, financial markets, companies, technology, energy, health, public policy, law, and social affairs. Investigative reporting remains a central part of its identity, alongside subscription-supported premium journalism and business information services. Caixin's reporting is aimed at professionals, investors, policymakers, executives, researchers, and readers seeking detailed analysis of China's economy and institutions. Caixin began experimenting with international distribution in 2010 through Caixin Online, a relatively small English-language service that translated selected Chinese stories. In 2016, the international operation was expanded into Caixin Global, with a new English-language website and application and customized business-intelligence services offered under the Caixin Global Intelligence name. The expansion positioned the company as a China-focused information provider for international readers and institutions. The company also broadened beyond conventional journalism. Caixin Insight provides analysis associated with the Caixin China PMI, an economic indicator produced and published monthly by IHS Markit after Caixin took over sponsorship from HSBC in 2015. In 2018, Caixin Global and CITIC Capital acquired Euromoney's Global Market Intelligence Division, whose principal businesses included CEIC and EMIS. The transaction expanded Caixin's exposure to international financial data and emerging-market information services. Caixin adopted a paid digital-content model in stages. On 6 November 2017, it placed most content on caixin.com behind a paywall, making it one of the first major Chinese publications to pursue a broad subscription model for online news. The move was intended both to protect original reporting from unauthorized copying and to establish reader revenue as a major part of the business. Public statements cited substantial subscriber growth after the launch: more than 200,000 digital annual subscribers were reported in 2018, approximately 850,000 digital subscribers were reported in 2022, more than one million in 2023, and over 1.2 million in 2024. These figures were disclosed by Caixin or reported in industry rankings and should be understood as time-specific rather than current ownership or financial disclosures. Caixin operates from Beijing and has maintained offices in Shanghai and Hong Kong. It is recognized internationally for detailed coverage of China's economy and for reporting that sometimes addresses politically sensitive subjects, although its work is produced within China's regulatory environment. The organization has also developed conferences and forums, including the Caixin Summit and international events intended to connect business, policy, and academic communities. Its principal brand proposition combines specialist Chinese reporting, investigative depth, paid digital access, international distribution, and data-oriented services.
History
Caixin's origins lie in Caijing magazine, which Hu Shuli founded in 1998. Caijing became known for financial reporting, long-form business journalism, and investigations, but its editorial environment depended partly on the political protection and institutional backing of the Stock Exchange Executive Council. In 2009, disagreements intensified between Hu and the magazine's controller. The disputes involved the treatment of sensitive current-affairs stories, pressure to move toward conventional business coverage, and disagreements over wages and management. Hu resigned in November 2009, accompanied by a large proportion of Caijing's journalists and editors. The departing team subsequently formed Caixin Media, which was established in January 2010. Hu became the founder and publisher and launched Caixin Weekly as the group's principal publication. Because the new organization was staffed substantially by former Caijing employees, it carried forward the earlier magazine's reputation for detailed financial reporting and investigative work while building a distinct corporate and digital platform. Caixin's early financing involved several institutional investors. Zhejiang Daily Press Group invested 40 million yuan for a 40 percent stake. A proposed later sale of part of Zhejiang Daily's holding was withdrawn, and Tencent subsequently became a shareholder in 2012. In 2013, China Media Capital announced that it had acquired a 40 percent stake from Zhejiang Daily and described the investment as part of an effort to build a China-based financial-media platform with international influence. The full current ownership structure is not established by the supplied material. During its first years, Caixin distributed Chinese-language reporting through its website, mobile application, and magazine products. It also tested international distribution through Caixin Online, which translated a limited selection of Chinese stories into English. In 2016, the international effort was reorganized and expanded as Caixin Global. The new operation included an English-language website and application and business-intelligence offerings grouped under Caixin Global Intelligence. This represented a strategic move from serving domestic readers alone toward serving international investors, researchers, companies, and institutions interested in China and emerging markets. The group also developed a role in economic data and analysis. Caixin took over sponsorship of the China PMI from HSBC in 2015; the index is compiled and published monthly by IHS Markit, with analysis from the Caixin Insight research team. In April 2018, Caixin Global and CITIC Capital acquired Euromoney's Global Market Intelligence Division. The division included CEIC and EMIS and supplied financial and business information across emerging markets and multiple languages. The acquisition was described as one of the largest offshore purchases by a mainstream Chinese media company, although the wider financial condition of Caixin is not publicly established in the supplied sources. A major turning point came with the transition to paid digital publishing. Caixin initially offered much of its website and application content freely while charging for the electronic version of its signature magazine. It began testing subscription access in 2016 and placed most caixin.com content behind a paywall on 6 November 2017. The company presented the change as both a response to copyright infringement and an effort to build a sustainable premium-news business. Hu Shuli later said that the early market response was positive. Publicly cited subscriber figures rose from more than 200,000 digital annual subscribers in 2018 to approximately 850,000 in 2022, over one million in 2023, and more than 1.2 million in 2024. Caixin's reporting has periodically brought it into conflict with China's regulatory environment. In 2016 it publicly described the removal of an article by the national cyberspace regulator. In 2018 a local police force apologized after a Caixin reporter investigating a petrochemical leak was harassed. During the COVID-19 crisis, Caixin's reporting on funeral-urn shipments in Wuhan drew international attention because it raised questions about official death figures. In 2021, the outlet was removed from a government list of news organizations permitted for republication, limiting its status as a broadly distributable news source. Today, Caixin remains a specialist media and information brand with bases in Beijing, Shanghai, and Hong Kong. Its activities encompass Chinese and English journalism, digital subscriptions, research and data products, economic indicators, conferences, and policy-oriented forums. Its defining characteristics are premium paid content, financial and economic expertise, investigative reporting, and an ambition to connect Chinese information with global professional audiences.
- 2024
Paid subscriptions exceed 1.2 million
[1]Hu Shuli disclosed that Caixin had more than 1.2 million paid subscribers.
- 2023
Paid subscriptions exceed one million
[1]Industry reporting cited more than one million Caixin paid subscribers.
- 2018
Caixin Global acquires Euromoney's global market-intelligence unit
[1]Caixin Global and CITIC Capital acquire the unit containing CEIC and EMIS.
- 2017
Caixin introduces a broad digital paywall
[1]Most content on caixin.com becomes subscription-only.
- 2016
Caixin Global is expanded
[1]The international operation gains a dedicated English website, application, and business-intelligence services.
- 2015
Caixin takes over sponsorship of the China PMI
[1]Caixin becomes the sponsor of the China PMI, which is compiled and published monthly by IHS Markit.
- 2013
China Media Capital acquires a major stake
[1]China Media Capital announces the purchase of a 40 percent stake from Zhejiang Daily Press Group.
- 2012
Tencent becomes a shareholder
[1]Tencent acquires an undisclosed shareholding in Caixin Media.
- 2010
Caixin Media is established
[1]Hu Shuli establishes Caixin Media and launches Caixin Weekly.
- 2009
Hu Shuli leaves Caijing
[1]Hu and many journalists depart Caijing after disputes over editorial control, sensitive reporting, and employment matters.
Products and positioning
Independent-minded, premium Chinese business and financial journalism with investigative reporting, subscription distribution, international reach, and related data services.
Business magazine · 2010
Caixin Weekly
Caixin's flagship weekly publication, carrying in-depth reporting and analysis on China's economy, companies, finance, public policy, and major social issues. It emerged at the establishment of Caixin Media and continued the long-form editorial tradition associated with Hu Shuli's earlier work at Caijing.
Digital news · 2010
Caixin.com
The group's principal Chinese-language digital platform, offering breaking news, investigations, market reporting, policy analysis, and specialist coverage. Most of its content moved behind a paywall in 2017, making subscriptions a central part of the product model.
International news · 2016
Caixin Global
Caixin's English-language international service for readers seeking reporting and analysis on China, Asian markets, business, economics, and geopolitics. It includes a website and mobile application and serves professional audiences outside mainland China.
Business intelligence · 2016
Caixin Global Intelligence
A group of customized business-information and intelligence services developed through Caixin's international operation. The offering extends the brand beyond journalism toward research and decision-support products for institutions and companies.
Economic indicator · 2015
Caixin China PMI
A monthly China purchasing-managers indicator compiled and published by IHS Markit and sponsored by Caixin. Caixin Insight contributes analysis, giving the media group a visible role in economic data interpretation.
Financial data · 2018
CEIC and EMIS
International financial and business-information businesses acquired through the 2018 purchase of Euromoney's Global Market Intelligence Division by Caixin Global and CITIC Capital. They broadened the group's data reach, particularly across emerging markets.
Controversies
2021
Removal from China's news-republication list
The Cyberspace Administration of China removed Caixin from a list of news media whose reports could be republished, materially restricting the outlet's circulation as an approved news source.
2020
Reporting on Wuhan funeral urns
Photographs published by Caixin showing large numbers of funeral urns in Wuhan prompted questions about whether official COVID-19 death figures fully reflected mortality during the outbreak.
2018
Harassment of reporter investigating petrochemical leak
Caixin reporter Zhou Chen was reportedly harassed by police in a hotel while investigating a petrochemical leak in Quanzhou that sickened more than 50 people. Public criticism was followed by an apology from local police.
2016
Public disclosure of article censorship
Caixin reported that the Cyberspace Administration of China had removed an article concerning comments by a member of the Chinese People's Political Consultative Conference. The publication's decision to identify the regulator and describe it as a censorship authority was highly unusual in the Chinese media environment.
Marketing campaigns
- 2017Caixin digital subscription paywall
China · Global
Caixin moved most of its Chinese-language web content behind a paywall to protect original journalism and develop recurring reader revenue.
Outcome. The company subsequently reported strong subscriber growth, reaching more than one million paid subscribers by 2023 according to cited industry reporting.
Brand decisions
2018
Acquire Euromoney's Global Market Intelligence DivisionM&ABackground
Caixin sought to extend its international business beyond editorial content into financial and emerging-market information.
Action taken
Caixin Global and CITIC Capital jointly acquired Euromoney's Global Market Intelligence Division, including CEIC and EMIS.
Aftermath
The acquisition expanded Caixin's international data and business-information capabilities.
Reported acquisition price. $180.5 million (April 2018)
2017
Place most digital news behind a paywallPrice changeBackground
Caixin sought to reduce the effects of copyright infringement and make premium journalism financially sustainable.
Action taken
On 6 November 2017, caixin.com began requiring subscriptions for most online content.
Aftermath
Caixin reported substantial subscriber growth in subsequent years, including more than 200,000 digital annual subscribers in 2018 and more than one million paid subscribers in 2023.
2016
Build a dedicated global information businessStrategyBackground
Caixin's initial English-language service translated only a limited number of Chinese articles for overseas readers.
Action taken
The company expanded the operation into Caixin Global with a dedicated English website, application, and business-intelligence services.
Aftermath
The move increased Caixin's international distribution and prepared the group to operate in journalism, research, and financial information.
Recent events
- 2018
Caixin Global and CITIC Capital acquire Euromoney's Global Market Intelligence Division[1]
M&A
The transaction brought CEIC and EMIS into the acquiring group and expanded Caixin's international financial-information activities.
- 2017
Caixin launches a broad digital paywall[1]
Pricing
Most content on caixin.com moved behind a subscription paywall as the company sought to protect original reporting and strengthen reader-revenue economics.
- 2016
Caixin expands its English-language international operation[1]
Product launch
Caixin established Caixin Global as a larger international operation with an English-language website, application, and business-intelligence services.
- 2010
Hu Shuli and Caijing journalists depart to establish Caixin[1]
Leadership change · Other
Caixin Media was created after Hu Shuli and most of Caijing's editorial staff left the magazine following disputes over editorial control and coverage of sensitive current affairs.
Sources6 sources
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