China’s benchmark Shanghai Composite Index (000001.SH) lost 0.47% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.9%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.85% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.09%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Evergrande Chief Borrows $105 Million Against Hong Kong Properties
Hui Ka Yan puts up two more luxury houses as collateral in the property giant’s ongoing struggle to keep up with interest payments
· Hisense May Bid $1 Billion for Siemens Intelligent Traffic Unit
A deal would square with Chinese appliance giant’s expanding global footprint and strategic interest in smart traffic operations
· Allianz Cleared to Create China’s First Wholly Foreign-Owned Life Insurer
After regulatory approval, German insurance giant is set to buy out Citic’s 49% of their joint venture, reflecting opening-up policies and China-EU investment accord
· Huarong Inks $6.6 Billion of Share Sales to Five Strategic Investors
Accords advance restructuring to rescue debt-laden state-owned asset manager from the verge of collapse
· Baidu Reports Swing to Loss Despite Better-Than-Expected Revenue
Search engine giant takes a noncash hit on Kuaishou investment and warns of fourth-quarter headwinds from pandemic and tech sector crackdown
· U.S.-Listed Chinese E-Grocers Bleed Red Ink Despite Rising Orders
As losses balloon, Missfresh and Dingdong say they will improve margins by increasing sales of goods under their own brands
· Huarong Cleared to Raise 70 Billion Yuan via Bond Sale as Part of Rescue Plan
Fundraising will help replenish the distressed-asset manager’s balance sheet which is weighed down by 1 trillion yuan of debt
· Q&A: Fidelity Executive Explains How Foreign Investment Services Can Compete for China’s Wealth
Rajeev Mittal, a regional managing director for the money management giant, delves into distribution channels and advocates for investing for retirement
· Battery-Maker CATL Cuts Fundraising Target After Questions From Shenzhen Bourse
The company, which wants money to double its capacity, is now seeking to raise 45 billion yuan rather than 58 billion yuan
· Photo Essay: Lockdown After Lockdown Takes the Shine off Ruili’s Jade Trade
Numerous Covid outbreaks and the tough measures to curb them have stifled business in the border city
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This article was generated by Caixin Automation.
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