A Chinese-born businessman that the United States and China say ran one of Southeast Asia’s largest scam compounds was extradited to China to face charges of money laundering and other crimes, three years after he was arrested in Thailand, the New York Times reported. The businessman, She Zhijiang, arrived in the Chinese city of Nanjing from Thailand on Wednesday. He would be one of the highest ranking figures linked to the scam industry to face charges in China, which launched a mass crackdown this year to rescue people trafficked to work as scammers in Southeast Asia.

Chinese companies in the European Union say business conditions in the bloc have deteriorated for a sixth consecutive year, with rising labour costs and political challenges pressuring their operations, according to a survey published on Wednesday, Reuters reported. The survey for the China Chamber of Commerce to the EU of 200 Chinese companies and organisations said that the bloc's performance in research, talent, digitalisation and market access represented obstacles.

Weak domestic demand rather than U.S. tariffs is the main reason China is dumping surplus product on European markets at rock-bottom prices at the expense of domestic producers, a European Central Bank study argued on Tuesday, Reuters reported. Pressure has been growing on the European Union to act on surging imports from China as U.S. tariffs force Beijing to find new markets for products it now struggles to sell. "Escalating trade tensions between the United States and China might result in a further diversion of Chinese exports to Europe," the ECB argued in an Economic Bulletin article.

Mainland businessman Li Yonghong’s company, Rossoneri Sport Investment Co., Ltd., which previously owned Italian football club AC Milan, is facing a liquidation petition filed by creditor General Fantasy Limited, with a hearing set for next January, TheStandard.com.hk reported. Li acquired AC Milan through his Chinese-led consortium in 2017. However, the company later failed to repay debts after signing a bond subscription agreement with five investment fund firms.

Country Garden Holdings, one of the biggest casualties of China’s real estate crisis, is wrapping up its US$14.1 billion offshore debt restructuring after more than two years, with creditors likely to approve its plan in a vote on Wednesday (Nov 5), Bloomberg News reported. The vote represents a milestone for the developer after years of negotiations as it sought to avoid the fate of its peer China Evergrande Group, which was ordered to liquidate in 2024. It’s also a sign of some stability amid a years-long property slump that has triggered US$130 billion of defaults.

A private gauge of China’s manufacturing activity showed Chinese factories continued to expand production in October, albeit at a slower pace, signaling weaker growth momentum heading into the fourth quarter of the year, the Wall Street Journal reported. The RatingDog China General Manufacturing Purchasing Managers’ Index, compiled by S&P Global, declined to 50.6 last month from 51.2 in September, according to a statement released on Monday.

China's factory activity shrank for a seventh month in October, dragged by a drop in new export orders as the boost from months of front-loading to beat U.S. President Donald Trump's tariff threats finally wore off, Reuters reported. The official purchasing managers' index (PMI) fell to 49.0 in October from 49.8 in September, a six-month low, the National Bureau of Statistics' survey showed on Friday, remaining below the 50-mark separating growth from contraction and missing a forecast of 49.6 in a Reuters poll. Policymakers had banked on producers rushing goods to the U.S.

U.S. President Donald Trump said on Thursday he had agreed with President Xi Jinping to trim tariffs on China in exchange for Beijing cracking down on the illicit fentanyl trade, resuming U.S. soybean purchases and keeping rare earths exports flowing, Reuters reported. Trump's face-to-face talks with Xi in the South Korean city of Busan, their first since 2019, marked the finale of a whirlwind Asia trip on which he also touted trade breakthroughs with South Korea, Japan and Southeast Asian nations.