China’s benchmark Shanghai Composite Index (000001.SH) lost 0.25% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.42%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.35% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.53%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Internet Majors Downsize to Weather Business Headwinds
Survey finds that six of the 10 biggest players slashed payrolls last year, including Tencent, Meituan and Alibaba
· In Depth: Indonesia’s Ambitious Plan to Remake Its State Sector
Erick Thohir has led a sweeping reform of SOEs, which he told Caixin are key to Indonesia becoming a developed country by 2045
· Analysis: What Has China’s State Iron Ore Giant Achieved in Its Inaugural Year?
China Mineral Resources Group, established in July 2022, secured benefits in pricing, delivery and product types for Chinese steelmakers, but its power to bring down the cost of the commodity remains limited, sources say
· CATL to Sue Intellectual Property Rights Regulator Over Patent Invalidation
China’s biggest EV-battery maker seeks to overturn ruling on two patents at the heart of a years-long legal tussle with a smaller rival
· Caixin China New Economy Index Rises on Growing Labor and Tech Investment
The gauge that tracks the size of high value-added industries such as biotech ticked up to 29.5 in July
· Huawei Partners With Chery on New Electric Vehicle
Tech giant unveils Luxeed coupe equipped with Huawei’s HarmonyOS 4.0 mobile operating system
· Record Floods Leave 14 Dead in Northeast China
Among the casualties were senior municipal officials from the city of Shulan, which bore the brunt of the torrential rain
· Official at Top China Engineering School Falls Under Graft Probe
Zhang Guang is vice president of Beihang University and a member of its party standing committee
· Cover Story: How a 140-Year Flood Caught Beijing and Nearby Cities Off Guard
Scientists blame global warming for torrents that killed 22 people
· India Delays Shock Move to Curb Imports of Laptops, Tablets
The move came after tech giants Apple, Samsung and HP froze new device imports to the country following an abrupt order on Thursday
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This article was generated by Caixin Automation.
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