China’s benchmark Shanghai Composite Index (000001.SH) lost 0.16% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.22%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.07% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.44%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: China Tests Whether State Purchases Can Lift Housing Market
Government offers $41.6 billion in financing to help cities buy unsold homes
· Tencent Joins the Chatbot Race with Launch of ‘Yuanbao’
Yuanbao allows users to perform tasks such as AI searches, document summarization and the creation of personalized AI entities
· Nine Out of Ten Cars Sold in China Will Be NEVs by 2035, Report Says
Global sales expected to pass 70 million by 2035, although concerns raised over slowing momentum
· China Merchants to Consolidate Cargo Operations Amid Shipping Boom
State-owned conglomerate shakes up subsidiaries to cash in on rising freight rates
· Tesla Protester Ordered to Pay $23,400 And Apologize For Car Show Stunt That Went Viral
Tesla wins second defamation case after ‘brake failure’ protests are deemed unfounded
· China Investigates Two More Ex-Financial Overseers for Corruption
Zhao Dongsheng and Li Shiqian have likely leveraged their influence to do business, sources say
· China’s Former Top Sports Official Put Under Corruption Investigation
Gou Zhongwen, who is also a senior member of the country’s top political consultative body, is suspected of ‘serious violations of discipline and law’
· Caixin Explains: The Extreme Graft Cases Dealt a Death Sentence Without Reprieve
Only a handful of cases involving huge amounts of money or other aggravating factors result in the death penalty being carried out
Energy regulator pushes for ‘intelligent’ coal mines, expert proposes rebranding overcapacity, construction of Tesla’s Shanghai battery factory begins
· Analysis: U.S. Treasury Yields’ Declining Influence on Chinese Stocks
Changes to monetary policy are a key cause as focus shifts away from exchange rate stability to prioritizing domestic growth
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This article was generated by Caixin Automation.
