China’s benchmark Shanghai Composite Index (000001.SH) lost 0.19% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.72%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.78% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.2%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Saudi Aramco Boosts China Investment With $3.6 Billion Refinery Deal
Sweeping set of strategic cooperation accords locks in Aramco relationship with Rongsheng Petrochemical as Russia mounts challenge to Saudi oil supply role
· Japanese Citizen Accused of Spying in China
The suspect has been subject to ‘criminal compulsory measures,’ Ministry of Foreign Affairs confirms amid reports a Japanese company employee was detained
· Japanese Citizen Accused of Spying in China
The suspect has been subject to ‘criminal compulsory measures,’ Ministry of Foreign Affairs confirms amid reports a Japanese company employee was detained
· China Invites Honduran President to Visit After Establishing Diplomatic Ties
Honduras ends decades of official relations with Taiwan, noting there is ‘only one China’
· China Will Do More to Open Its Markets, Vice Premier Says
The country will be more proactive in adopting international standards in its trade rules, Ding Xuexiang tells the China Development Forum
· Jack Ma Makes Rare Appearance on Chinese Mainland
Alibaba co-founder resurfaces at a school in Hangzhou as Beijing wraps up a two-year clampdown on the country’s tech sector
· China Extends Tax and Fee Cuts for Some Businesses
The extensions are expected to reduce the amount of taxes and fees levied on businesses by more than $70 billion a year while they remain in effect
· Former Brazilian Leader Elected President of Multilateral Bank NDB
Dilma Rousseff will helm the Shanghai-headquartered New Development Bank, which was set up to finance projects in emerging markets and developing countries
· Cover Story: Chinese Auto Makers Rev Up Price War in Race for Market Dominance
Elon Musk’s Tesla kicked off the intense competition, with BYD, XPeng and Nio joining the fray in a bruising contest that could reshape China’s auto market
· Apple CEO Tim Cook Urges China’s Youth to Embrace Era of Tech Innovation
Cook made the comments at the China Development Forum, hosted by the State Council’s think tank, in Beijing
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