China’s benchmark Shanghai Composite Index (000001.SH) lost 0.47% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.68%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.37% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.98%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: China’s 2023 GDP Growth Recovers to 5.2%, Beating Target
Although the economy rebounded last year, statistics chief warns of headwinds in 2024
· China’s Faltering Property Sector to Stabilize in 2-3 Years, Ex-PBOC Official Says
Improving sales of new homes may take six months to be translated into investment, while unsold properties remain a burden for developers, says Sheng Songcheng
· Exclusive: BOCI Chief Executive Li Tong Resigns, Sources Say
Decision to step down may partly stem from reshuffles at the investment bank that may have reduced Li’s authority, sources speculate
· Foreign Investors Shun Commercial Properties in Greater Bay Area Amid High Interest Rates
Chinese buyers will continue to dominate large commercial property deals, but foreign investors are expected to return when the Fed cuts rates later this year, says real estate expert
· Davos Attendees Weigh China’s Strengths and Weaknesses at Caixin Luncheon
The country faces economic headwinds as investment and consumption of some durable goods have grown slower, but retains significant advantages in tech innovation and the green transition
· Energy Insider: Beijing Names New Climate Envoy, China Books Record Coal Output, Imports in 2023
Chinese battery-makers face South Korean patent probe, Shanxi to build 150 ‘intelligent’ coal mines this year, China’s ‘new three’ exports hit a record last year
· In Depth: China Financial Regulator Aims for Greater Consistency With New Departments
National Financial Regulatory Administration moves responsibilities for authorization and supervision of asset management institutions each under its own roof
· Shanghai State Media Veteran Tried for Accepting Millions in Bribes
Cheng Feng, former deputy manager of Shanghai United Media Group, stands accused of taking $5.4 million in exchange for assistance with garnering investment funding and winning project bids
· China’s First Home-made Dual-Fuel Ro-Ro Ship Embarks on Maiden Voyage
SAIC Anji Sincerity is built to carry up to 7,600 passenger cars and its dual-fuel system enables it to reduce carbon emissions by 30% compared with a ship of similar size
· BYD to Debut in Indonesian Car Market
The Chinese EV-maker, which already sells vehicles in more than 70 countries, has been trying to further expand its global footprint with exports surging 334.2% last year
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This article was generated by Caixin Automation.
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