China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.67%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) ended nearly flat for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.68%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Former HKEX CEO Charles Li to Launch Micro Connect Exchange in Macau
New financial assets platform will offer global investors access to China’s micro and small businesses, which will benefit from more financing
· Foxconn’s Sales Plunge Amid Zhengzhou iPhone Factory Disruption
November revenue drops nearly 30% from October as workers flee Covid outbreak, forcing the plant to jack up wages and offer bounties to lure people back
· Economists Split Over China’s 2023 Outlook
Growth projections range from 4% to 6%, as the country eases the strict ‘zero-Covid’ policy, which hobbled its economy
· Shanghai, Hangzhou Join Ranks of Chinese Regions Easing Covid Rules
The two major business hubs, alongside multiple cities, have followed Beijing and Guangzhou in relaxing testing requirements and other virus control measures
· Cover Story: China’s ‘Zero-Covid’ Looks Done. So, What to Expect Next?
Vaccination campaign for the elderly gets rebooted and switch to home quarantine for close contacts and self-testing gathers pace across the country
· Beijing City Government Denies Rumors That Covid Controls Set to be Scrapped
Speculation had swirled online that the capital was poised to ditch nucleic acid testing and health code checks in public places
· Analysis: Guangzhou Becomes Test Case for Coexistence With Covid in China
The southern metropolis this week relaxed a string of tough ‘zero-Covid’ restrictions including snap lockdowns and centralized quarantine for close contacts
· China Oceanwide Has Potential Buyer for $1.2 Billion LA Project
After spending $3.5 billion on U.S. projects, the company has battled to recoup its overseas outlays and revive its mainland China operations
· Tsingshan Expands Investment in Zimbabwe
Chinese stainless steel and nickel giant agrees to add lithium and cement processing while increasing capacity for coke and stainless steel
· Reports of the Death of Hui Ka Yan May Have Been Greatly Exaggerated
Evergrande insiders and external sources deny online rumors that the developer’s billionaire founder and chairman committed suicide
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This article was generated by Caixin Automation.
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