China’s benchmark Shanghai Composite Index (000001.SH) lost 0.25% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.2%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.36% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.16%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s New Financial Stability Fund Raises $9.59 Billion From Big Banks
Systemically important banks make additional payments on top of deposit insurance levies as the government creates another measure for managing financial risks
· Three Tough-to-Crack Housing Markets Relax Homebuying Controls
Hangzhou, Chengdu and Haikou join more than 100 Chinese cities in easing policies as Beijing pushes to rescue the property market
· JD.com Quarterly Growth at Eight-Year Low Amid Virus Restrictions
E-commerce giant’s revenue beats estimates despite nationwide consumption slump amid lockdowns and snarled logistics
· Tech Insider: Tencent Music’s Earnings Drop, Chinese Tech Stocks Regain Ground
Chinese-developed jetliner completes test flight, Tesla recalls more cars
· JP Morgan Upgrades Chinese Tech Outlook on Soothing Signals from Beijing
Upgrades from U.S. investment bank come as China seeks to reassure sector weary from months of regulatory chaos
· China Detects New Omicron Subvariant Considered More Infectious
The mutation of Covid-19, which has already appeared in the U.S. and Hong Kong, can be up to 27% more infectious than its predecessor on the Chinese mainland, reports say
· In Depth: PBOC Isn’t Done With Fintech as Ethics Governance Regulations Loom
New system, which was flagged in January, aims to ensure companies don’t abuse their technology advantages to get ahead
· Shanghai Says It Has Stopped Community Spread of Covid
The milestone fulfills a key condition for completely lifting a weeks-long lockdown that has sparked public anger, battered business
· North Korea Reports ‘Fever Cases’ in Almost 5% of Population
Without calling cases ‘Covid,’ isolated country says there were 392,920 new infections and eight deaths in 24 hours ended Sunday
· Global Climate Collaboration Needed More Than Ever, Davos Leader says
Gim Huay Neo, chief of World Economic Forum’s climate initiative, says pandemic and war underscore the need to work together
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This article was generated by Caixin Automation.
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