China’s benchmark Shanghai Composite Index (000001.SH) lost 0.09% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.06%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.36% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.32%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Issues More Guidelines on Internet Giants and Fintech
Nine regulatory agencies jointly call for improved regulation in the financial sector and stronger supervision of payment services
· China Penalizes PetroChina Unit for Illegal Oil Trading
PetroChina Fuel Oil ordered to disgorge illegal profits on improper sale of 179.5 million tons of imported crude to 115 local refineries over 15 years
· Caixin Explains: What China’s Overhaul of Overseas IPO Rules Is All About
New regulatory framework aims to put all companies who qualify for a listing under the same rules, regardless of their corporate structure and where they sell their shares
· Shipping Companies Pay Out Bumper Bonuses as Supply Chain Chaos Boosts Profits
Cosco’s container unit offers end-of-year bonuses as high as 30 times staff’s monthly pay
· China Merchants Bank Unit Kicks Off SPAC Listings in Hong Kong
Application is the first under new rules that allow the popular alternative to conventional IPOs
· Delta and Omicron Spook Beijing on Eve of Winter Olympics
A second district of the Chinese capital reports cases, as authorities warn of ‘complexity’ and ‘challenges’ that lie ahead
· Beijing Labs Barred From Price Gouging on Rush Covid-19 Tests
Local government promises to punish offenders with fines up to five times the cost of the extra fee, as the capital deals with a fresh outbreak ahead of the Olympics
· PBOC Signals Easing With Pledges of More Pro-Stability Policies
China’s central bank aims to be ‘preemptive’ and ‘hurry up’ in acting to shore up an economy slowed by pandemic disruptions and the property slump
· Evergrande Transfers Projects to Partners for Debt Relief
Deals aim to reduce property giant’s liabilities while ensuring completion of more than 1 million residences for buyers
· Delivery Times Likely to Stretch After Beijing Warns Omicron Could Have Traveled in Mail
Customs, postal authorities have directed airports and logistics companies to disinfect cross-border deliveries more thoroughly
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This article was generated by Caixin Automation.
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