China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.1%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.3% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.22%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Energy Insider: Tesla Plans $188 Million Expansion of Shanghai Factory
State-owned Datang to invest in African clean energy; NDRC weighs coal pricing overhaul; renewable energy stocks get a boost from bank funds
· Macao Casino Junket King Alvin Chau Detained
Gambling tycoon confessed to establishing overseas gambling platforms and carrying out illegal virtual betting, Macao police say
· Central Bank Targets Money Laundering Using Virtual Assets
Anti-money laundering chief Gou Wenjun proposes mechanism to combat criminal use of cryptocurrencies and nonfungible tokens
· Huarong’s Strategic Investors Set Up Private Equity Firm
Fund with 18 shareholding companies has $2.32 billion of registered capital and plans to inject cash into the scandal-plagued bad-debt manager
· Weibo Seeks $547 Million in Secondary Offering in Hong Kong
The Twitter-like service will offer 11 million shares before the listing scheduled for Dec. 8
· Pinduoduo Shares Dip as Earnings Disappoint
E-commerce giant’s revenue grew 51% in the third quarter, missing analysts’ estimates
· China Adds E-Cigarettes to Tobacco Monopoly Law
Vape-makers have been waiting for clarity on legal status of products
· Graft-Busters Ensnare Another Former Securities Regulator
Currently Guotai Junan Securities’ investment banking chief, Zhu Yi is being investigated for misconduct in his previous role at China’s securities watchdog
· Opinion: Why Yuan Is Likely to Stay Strong for a Long Time
Exports, a key factor supporting the strength of the currency, are unlikely to drop significantly, and a divergence in monetary policies of the U.S. and China will also bolster its value
· China’s ‘Zero-Covid’ Strategy Can Protect Country Against Omicron, Top Experts Say
Leading infectious disease specialist Wu Zunyou says country’s rapid response and prevention measures are a ‘magic weapon’ that will contain any domestic outbreaks
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This article was generated by Caixin Automation.
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