China’s benchmark Shanghai Composite Index (000001.SH) lost 0.19% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.08%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.87% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.38%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: TikTok’s Chinese Twin Is Taking On Alibaba and Meituan for E-Commerce Market Share
Like ByteDance’s TikTok, the Douyin video sharing app deploys live-streaming in the competition for consumers in the online marketplace
· Update: China Sets 2023 GDP Growth Target at Around 5%
Premier Li Keqiang announced the target as he delivered his final government work report at the annual ‘Two Sessions’
· Weekend Long Read: How a Lack of Conviction in Values Leaves Ambitious Movies Feeling Hollow
It’s hard for directors to move an audience with a big idea if they don’t really believe it themselves
· China Adds More Than 1,000 Stocks to Hong Kong-Shanghai-Shenzhen Trading
Expansion of stock connect programs foreshadowed in December increases investor choices by almost 40% and makes Yancoal, NagaCorp and L’Occitane available to mainlanders
· Singapore Jacks Up the Price of Permanent Residency
Investors will have to pony up three to 10 times as much after March 15 under revisions to 19-year-old program that brought in billions of dollars and created thousands of jobs
· Tech Insider: U.S. Reviews Huawei Export Licenses, Bilibili Shrinks Losses
China’s short video users top 1 billion, Nio’s losses deepen despite sales growth
· China Expected to Set GDP Growth Target of Around 5% at ‘Two Sessions’
Strong signals that policymakers will prioritize stabilizing growth along with end of ‘zero Covid’ prompted UBS and Goldman Sachs to provide similar estimates
· China’s Top Prosecutor Makes Consulting Defense Lawyers Mandatory Before Arrests
The new regulation is an effort to ensure that the often-sidelined lawyers are heard during the judicial process, legal experts say
· In Depth: The World’s EV Supply Chain Is Fracturing
Long dominated by China, the global lithium industrial chain is breaking up into independent European, American and China segments
· China’s Local Medical Insurance Coffers Bled Dry on Rising Costs, Covid
Shandong, Tianjin and Guangxi among regions to post big deficits in their resident medical insurance funds in 2021, with pressure mounting to close the gap between income and outlays
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