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Real-time News
On April 27, Alibaba Group (09988.HK) announced on the Hong Kong Stock Exchange that it plans to spin off some of its infrastructure assets by seeking a real estate investment trust (REIT) listing on the Shenzhen Stock Exchange. The underlying asset for the proposed spin-off is Jiaxing Industrial Park, held by two of Alibabas indirectly wholly-owned subsidiaries, Jiaxing Chuanyun and Jiaxing Chuanxiang. On March 13, 2026, the Hong Kong Stock Exchange confirmed that Alibaba could proceed with the proposed spin-off of its infrastructure REIT on the Shenzhen Stock Exchange. The proposed spin-off is expected to be conducted through the establishment of an infrastructure REIT as a publicly offered infrastructure investment fund, with CICC Fund Management acting as the public fund manager. The infrastructure REIT will acquire all the interests of the asset-backed special purpose vehicle (ABS) by subscribing to securities to be issued by the ABS. The ABS will then acquire 100% equity in two special purpose vehicles (SPVs), and the project company holding Jiaxing Industrial Park will be transferred to these SPVs. At that time, the project company will no longer be a subsidiary of Alibaba and will no longer be consolidated into the Groups accounts. Investors will subscribe to units of the infrastructure REIT, which will be listed on the Shenzhen Stock Exchange.On April 27, five departments—the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Transport, the Ministry of Commerce, and the State Administration for Market Regulation—jointly issued a "Notice on Launching a Joint Enforcement Campaign to Regulate the Recycling and Utilization of Used Power Batteries for New Energy Vehicles" to strengthen supervision and management of the recycling and utilization of used power batteries for new energy vehicles and promote the scientific and standardized recycling and utilization of these batteries. To implement the work plan outlined in the "Action Plan" and in accordance with the joint departmental regulations of the "Interim Measures for the Management of the Recycling and Comprehensive Utilization of Used Power Batteries for New Energy Vehicles," the "Notice" focuses on the prominent issues facing the recycling and utilization of used power batteries for new energy vehicles, taking the improvement of a collaborative supervision mechanism as a key measure to strengthen the supervision of the entire chain, and is an important step in regulating industry order.Intel (INTC.O) is reportedly set to launch a bond issuance as early as Monday to help raise funds to repurchase its stake in the Irish factory, which it sold to investment firm Apollo two years ago, for $14.2 billion, as planned.On April 27, the draft Law on Farmland Protection and Quality Improvement was submitted to the Standing Committee of the National Peoples Congress for its second review. The second draft further strengthens the relevant provisions on farmland protection and quality improvement. The draft adds provisions stipulating that the state will take measures to fully mobilize the enthusiasm of agricultural producers and operators in farmland protection and quality improvement, and safeguard their legitimate rights and interests. The draft also adds provisions that the state will improve the farmland quality survey and evaluation system, establish unified farmland quality evaluation methods, standards, and indicators, and establish and improve a farmland quality monitoring network system. Furthermore, the draft adds provisions to improve the project approval mechanism for high-standard farmland, clarify that the construction of high-standard farmland should follow the principle of adapting to local conditions, and simultaneously incorporate the management and maintenance of high-standard farmland into the national high-standard farmland database.Rijksmuseum raised its target price for ConocoPhillips (COP.N) from $118 to $145.
