China’s benchmark Shanghai Composite Index (000001.SH) lost 0.22% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.1%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.67% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.09%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s East-West Economic Gap Refuses to Narrow
Despite a push for more balanced development, China’s western regions continue to lose ground to the wealthier eastern regions, NDRC reports
· HKEX to Cut IPO Settlements to Two Days on New Platform
Exchange plans October rollout of cloud-based digital platform called FINI to replace uncompetitive current five-day IPO settlement system
· Climate Finance Works Best When Everyone Pulls Together: WEF Panel
In China, the government, state-owned banks, and the private sector are working in partnership to fund the green transition, financiers and Huaneng’s president tell the World Economic Forum in Tianjin
· China Vows Tough Stance on Drug Abuse by Medical Professionals
While the number of crimes involving prohibited drugs in the country has been declining for several years, those involving controlled narcotic drugs and psychotropic substances have increased
· Loongson Must Pay CIP $3.21 Million in Royalties
Arbitration ruling resolves four-year dispute
· Ex-PBOC Governor Rebuts Criticism of Belt and Road Financing as ‘Debt-Trap’
Accusations stem from ‘political tendency to smear China,’ Zhou said
· China’s State Grid Champions Global Cooperation for Green Energy Transition
Research collaboration and interconnection of energy infrastructure between China and its neighbors are among areas that could benefit, Chairman Xin Baoan tells Summer Davos
· Tech Insider: Alibaba’s Restructuring Hurdles, Oppo’s Dashed Chipmaking Dreams
German flying-car maker Lilium to set up Shenzhen office, Shein seeks to shift supply chains beyond China
· U.S. Costco Stores to Start Selling Genki Forest Drinks, Source Says
Products to go on sale from next week as Chinese beverage-maker looks to accelerate global expansion, including in Southeast Asia
· China’s Premier Warns Other Countries Against Politicizing Business Risks
Li Qiang’s comments at Summer Davos comes amid calls for ‘de-risking’ from China
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This article was generated by Caixin Automation.
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