CEBM

What CEBM does

Caixin Insight (财新智库, CEBM) is a high-end financial think tank and data services platform that operates as a subsidiary of Caixin Media Group, established in August 2015. The company operates three integrated business lines: think tank research services, data services, and proprietary index products, serving institutional clients including financial institutions (banks, securities firms, fund managers), research institutions, government agencies, and corporate clients across China and selectively in international markets. The company is led by Hu Shuli (Chairwoman of Caixin Media and CEBM), with Shen Minggao serving as President/Chief Economist, Gao Erji as Executive President, and Jason Hsu as Chief Index Designer.

CEBM's product portfolio spans subscription data products (财新数据通 Caixin Data Pass and 财新数据平台 Caixin Data Platform), AI-augmented analytical tools (AI Valuation Tools, AI Industry Mapping), the cross-border M&A Opportunity Monitor (伺机者), an ESG basic indicator database built on a 20-year credit rating model, and a family of proprietary indices including the Caixin BBD National Economic Index (NEI), CRI, CCI, the China Climate Index (co-developed with the National Climate Center), and Smart Beta indices CX基石 (930927) and CX新动能 (930928), with the latter two licensed to two ETFs listed on the Hong Kong Stock Exchange via Premia Partners in 2017. The technology architecture combines big-data ingestion from partners such as BBD, Research Affiliates (through the Caixin Rayliant joint venture), Macrobond, and CEIC with proprietary index methodologies and predictive modeling.

The business model is primarily B2B and B2G. Revenue is generated through subscription fees for data products, licensing of proprietary indices (including HKEX ETF licensing and cooperation with China Securities Index), and consulting fees for think tank engagements. Distribution is reinforced by the Caixin Media ecosystem, including the Caixin Summit, WeChat/Weibo channels, and the Caixin mobile app, which provide brand credibility and access to institutional decision-makers. In 2022, CEBM was listed by the Cyberspace Administration of China among the first batch of certified financial information service institutions, formalizing its regulatory standing in the Chinese financial data sector.

Name

CEBM

Legal name

财新智库

Website

https://caixininsight.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Caixin Insight (财新智库) is a financial think tank and data services platform under Caixin Media, offering subscription data products, proprietary Smart Beta and macroeconomic indices, and AI-augmented analytical tools to financial institutions, government agencies, and corporate clients across China and select international markets.

Ownership category

akta.pro rank

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. 财新数据通 (Caixin Data Pass): Premium subscription product offering comprehensive financial data, authoritative news, and business services. Provides 'data + news' interactive experience combining securities, bond, company, and person databases with big data analysis.
2. 财新数据平台 (Caixin Data Platform): Professional database product for financial professionals and investors, offering investment market news, background information, data analysis, industry research, and strategy reports. Features self-developed databases covering bonds, stocks, financial data, and partnered data for EV, solar, semiconductors, wind power, and hog industries.
3. Smart Beta Index Products: Licensing of proprietary smart beta indices (CX基石, CX新动能) for ETF creation. Two ETFs listed on HKEX in 2017: Premia中证财新中国基石经济ETF (02803.HK) and Premia中证财新中国新经济ETF (03173.HK).
4. 伺机者 (Opportunity Monitor): Global investment opportunity database and consulting service, providing investment opportunity push services for cross-border M&A标的. Revenue from consulting fees and platform access.
5. ESG基础指标数据库: ESG fundamental indicator database covering all A-share listed companies, offered as part of premium subscription packages.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

CEBM (财新智库) provides financial data platforms, proprietary economic indices, AI-powered valuation and industry mapping tools, credit rating and risk-control systems, and think tank research to financial institutions, research organizations, government agencies, and corporate clients. Its core commercial offerings are the Caixin Data Platform and Caixin Data Pass premium subscription products, which combine proprietary financial databases (bonds, equities, funds, futures, ESG, corporate governance) with AI-driven analytics and integrated Caixin Media news content.

Product overview

财新智库是财新传媒旗下的高端智库服务平台，以「成为新经济时代数据工具制造商」为愿景，旗下业务分为三大板块：智库（研究服务）、数据、指数。数据板块主营数据技术开发与资讯分析，包含财新数据平台（专业数据库，含估值助手、多种行业数据库如光伏/半导体/新能源汽车/生猪等）及高端订阅产品财新数据通（2017年推出）；另含信用评级与风控系统（12个功能模块）、伺机者全球投资机会平台、会议培训服务。指数板块通过财新锐联发展智能贝塔（Smart Beta）策略，推出CX基石经济股票指数（930927）和CX新动能股票指数（930928）等产品。财新智库还联合国家气候中心发布中国气候指数，联合格盛资产发布中国大宗商品指数（CCI），并运营ESG基础指标数据库。整体上，财新智库集宏观经济研究、数据分析、指数开发、金融风控于一体，形成研究、数据、指数、风控多元产品矩阵。

Differentiator

Problem solved

Functional benefit

Brands

• 财新数据通: A premium subscription product launched in 2017, integrating Caixin platform content with financial data, news, and business services.
• 财新数据平台 (yun.ccxe.com.cn)

Products and services

• Caixin Data Pass (财新数据通) Premium subscription product integrating financial data, authoritative news, and business services for financial institutions, research bodies, and corporate clients. Provides 'data + news' interactive experience built on stock, bond, company, and people databases.
• Caixin Data Platform (财新数据平台) Professional database product for financial professionals and institutional investors, providing integrated market news, company background data, industry research, and strategy reports. Includes self-developed databases (bonds, stocks, financials, ESG, corporate governance, etc.) and partner-data modules (NEV, solar, semiconductors, wind power, hog).
• CEBM Think Tank Research (财新智库宏观经济研究服务) CEBM's think tank research business line, providing macro-economic research, industry research, market indices, market surveys, and databases for domestic and international institutional clients, supporting strategic consulting needs and promoting healthy development of China's consulting services market.
• Caixin Rayliant Smart Beta Indices (财新锐联智能贝塔指数) Smart Beta (intelligent beta) investment indices developed by Caixin Rayliant (a JV between CEBM and Rayliant Global Advisors/Research Affiliates) for institutional investors, offering passive investment tools. Includes CX基石经济股票指数 (930927, China Foundation Economy Stock Index) and CX新动能股票指数 (930928, China New Momentum Stock Index), plus subsequent ESG-themed strategy indices.
• Valuation Assistant (估值助手) AI-powered valuation toolkit for institutional investors to evaluate A-share companies. Includes Valuation Assistant, Industry Chain Mapping, Stock Library, and A-share Public Sentiment modules covering all A-share listed companies using multiple valuation methodologies with automated data extraction and flexible assumption adjustment.
• Credit Rating System (信用评级系统) Credit rating and risk management system for credit management researchers and rating agencies. Provides credit rating workflows, rating models and algorithms, and integrated ratings of enterprises' operations and credit status. Built on a 20-year historical rating model and spans 12 functional modules: project initiation, rating launch, rating operations, rating quality control, committee preparation, re-rating, information disclosure, tracking ratings, model management, query/statistics, personal management, and system management.
• Opportunity Monitor (伺机者) Domestic and cross-border investment opportunity push platform developed by Caixin Data. Provides a global investment opportunity database, an online investment opportunity platform, offline bespoke investment services, local-government strategic consulting and investment promotion, and specialized databases (energy, mining, new energy, etc.).
• ESG Fundamental Indicator Database (ESG基础指标数据库) Database covering all A-share listed companies across Environmental (E), Social (S), and Governance (G) dimensions. Integrates fragmented ESG data using authoritative evaluation frameworks with standardized cross-comparable indicators for institutional ESG research and reporting.
• Caixin New Economy Index (NEI) (财新中国新经济指数) Proprietary benchmark index measuring the proportion of new economy input in China's overall economy, first constructed using big-data techniques to build production functions based on labor, capital, and technology inputs. Jointly developed with BBD and published monthly.
• China Climate Index (中国气候指数) Series of climate indices co-developed with the National Climate Center of the China Meteorological Administration, including the China Climate Risk Index (CRI), rainfall, drought, typhoon, high-temperature, and freeze indices. Quantifies disaster thresholds and actual losses for single or composite climate conditions, with historical data from 1981 and 3-month forward predictions.
• Caixin Commodity Index (CCI) (中国大宗商品指数) Series of commodity benchmark indices covering the futures products traded on China's three major commodity futures exchanges. Co-developed with Gesun Asset Management and includes base multi-head, multi-factor enhanced, skewness, and multi-asset absolute-return indices.
• Caixin Data+ Mobile App (财新数据+) Mobile application integrating financial data, authoritative news, and premium services for institutional and individual subscribers on iOS and Android. Includes data, news, and services modules with real-time bond data, 50+ million records of Chinese enterprise business information, and 500,000+ records of business people data.
• China ESG Climate Index (中国ESG景气指数) Latest sub-index of the NEI series that systematically evaluates the country's ESG development status under macroeconomic conditions across environmental, social, and governance dimensions. Frames enterprise sustainable-development brand value from transformation, stability, value, and internationalization perspectives.
• Listed Company Sensitive Sentiment Index (上市公司敏感舆情指数) Standardized index covering all A-share listed companies that collects news-sentiment and announcement information affecting investor short-term behavior from E/S/G perspectives, indicating the level of public-sentiment sensitivity for listed companies.
• Macrobond Global Economic Database (Macrobond全球经济数据库) Global macroeconomic database co-built with partner Macrobond, covering 189 countries/regions and approximately 20,000 popular data series (about 9.1 million time-series records) sourced from 1,400+ reliable providers, across 20 categories (rates, FX, prices, tourism, etc.).
• Information Monitoring Service (信息监测服务) Information monitoring service that delivers summarized information reports to improve whole-network monitoring efficiency. Targets specific projects, target lists, corporate brands and competitor brands under a risk-analysis framework.

Quantifiable outcome

• CX基石 index achieved 737.17% cumulative return vs 279.62% for CSI 300 (2005-2016)
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

14 partnerships are on record, tiered major, core and minor.

• 格盛资产 (GradEscent Asset Management)majorStrategic or Co-development Partner · 16 November 2017Strategic cooperation to jointly develop China Commodity Index (CCI), aiming to create benchmark index for China's commodity futures market.
• Premia Partners (香港)coreChannel Partner/ Reseller/ Distributor · 24 October 2017ETF manager issuing two smart beta ETFs (02803.HK, 03173.HK) tracking Caixin Ruilian indices, listed on HKEX. These became the largest A-share ETFs listed offshore.
• 国家气候中心 (National Climate Center)coreStrategic or Co-development Partner · 6 March 2017Joint development of China Climate Index series including Climate Risk Index (CRI), drought, flood, typhoon, high temperature, and freeze indices with 3-month forward predictions.
• 中证指数有限公司coreStrategic or Co-development Partner · 23 December 2016Joint development of smart beta stock indices including CX基石 (930927) and CX新动能 (930928), co-branded as '中证财新' indices listed on Shanghai Stock Exchange.
• BBD (数联铭品)coreStrategic or Co-development Partner · 1 August 2015Strategic research partner for New Economy Index (NEI) development, combining Caixin's editorial expertise with BBD's big data capabilities. NEI launched in 2016.
• 锐联财智 (Research Affiliates)coreStrategic or Co-development PartnerJoint venture (财新锐联) combining Caixin's macro research advantages with Research Affiliates' smart beta expertise. Responsible for developing and licensing smart beta investment strategies.
• 天津OTC (天津场外交易市场)minorStrategic or Co-development PartnerCooperation to build Tianjin's entrepreneur club, providing services for SME financing and market development.
• 广发银行majorStrategic or Co-development PartnerJoint publication of 'Small and Micro Market Entities Inclusive Finance Research Report' analyzing financing needs of small businesses.
• 微众银行majorStrategic or Co-development PartnerResearch cooperation on inclusive finance, jointly publishing reports on service industry small business financing needs.
• 亚马逊全球开店majorStrategic or Co-development PartnerJoint publication of '2022 China Cross-Border E-Commerce Industrial Cluster Development White Paper'.
• 清华大学majorImplementation/ SI/ Consulting PartnerAcademic partnership for research collaboration and talent recruitment.
• 复旦大学minorImplementation/ SI/ Consulting PartnerAcademic partnership for research collaboration.
• 南开大学minorImplementation/ SI/ Consulting PartnerAcademic partnership for research collaboration.
• 中国农业大学majorImplementation/ SI/ Consulting PartnerPartnership with China Agricultural University Futures and Financial Derivatives Research Center for commodity and futures research.

Scale indicators8 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Wind Information (万得): The dominant Chinese institutional financial data terminal provider. Directly competes with Caixin Data Platform in fixed income, equities, and macro data feeds, though Wind has a much larger terminal footprint and broader dataset coverage.
• China Securities Index Co. (中证指数): Co-developer of the CX基石 and CX新动能 indices with CEBM and a direct peer in operating broad Chinese equity indices, ESG indices, and smart beta strategies licensed to asset managers and ETF issuers.
• iFinD (Tonghuashun / 同花顺): Major Chinese financial data and trading terminal competing head-to-head with Caixin Data Pass in subscriptions to institutional and retail investors for market data, valuation tools, and research.
• Shanghai DZH (大智慧): Long-standing Chinese financial information services provider offering market data terminals, research, and analytics. Competes with Caixin Data in the institutional subscription segment and offers overlapping fundamental and valuation data products.

Broad incumbents

• MSCI: Global index provider with significant China A-share and ESG index products. Comparable to CEBM in index licensing economics and ETF co-branding, though at vastly larger scale and global reach.
• S&P Dow Jones Indices: Global index provider competing in smart beta, ESG, and China-themed indices. Represents the global benchmark for the kind of asset-light index business CEBM is pursuing via Caixin Rayliant.
• Bloomberg: Global benchmark for integrated financial data, news, analytics, and indices (Bloomberg Barclays indices). Sets the aspirational product model ('Bloomberg + The Economist') that CEBM explicitly emulates through the Caixin ecosystem.
• East Money / Choice (东方财富): Broad incumbent combining a financial portal, brokerage, asset management, and the Choice data terminal. Overlaps with CEBM in market data, indices, and ESG-style research for Chinese investors at much larger scale.

Others

• CEIC (ISI Emerging Markets Group): Global macro and EM database now owned by Caixin International (the CEBM group's sister entity). Functions as both a data partner and an adjacent comparable for CEBM's Macrobond-style global economic database offering.
• Research Affiliates: Pioneer of fundamental indexation and smart beta; JV partner in Caixin Rayliant. Comparable in smart beta methodology and IP, and shapes CEBM's index design and licensing economics through the 49/51 JV.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/%E8%8E%AB%E5%B0%BC%E5%A1%94%E7%A0%94%E7%A9%B6

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CEBM