China’s benchmark Shanghai Composite Index (000001.SH) lost 0.55% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.61%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.32% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.69%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Top Stories of the Month: China’s ‘Hidden Debt’ of Local Governments Threatens National Economy
Property slump is undermining borrowers’ ability to repay
· China Fixes Bug in Data Rules That Froze Up $21 Trillion Bond Market
New regulations on money broker data services addresses issue that roiled markets in March when traders abruptly lost access to information
· China-U.K. Thaw Continues as Top Officials Confer in Beijing
Vice President Han Zheng and Foreign Minister Wang Yi host British Foreign Secretary James Cleverly in ongoing series of interactions
· Chinese Megacities Ease Mortgage Rules for First-Home Buyers
Under pressure from the central government to spur housing sales, Guangzhou and Shenzhen tinker with criteria for most-favorable down payments and mortgage rates
· Beijing-Shanghai High Speed Railway Swings to Profit in First Half
Surging post-Covid travel demand drives 143% increase in revenue as passenger traffic nearly quadrupled from a year earlier
· China Visit ‘Excellent Start’ to Resolve Trade Issues, U.S. Commerce Secretary Says
Gina Raimondo wraps up her four-day China trip that saw the establishment of new high-level dialogue channels that could reduce ‘miscalculation and unnecessary tension’
· China’s Richer Diet Is Straining the Agricultural Industry
Demand for meat and dairy is increasing the need for production of feed grains as arable land grows scarce
· China Punishes Scores of Officials for Negligence in Two Fatal Accidents
Lax safety risk management and illegal land use were major factors in a deadly factory fire in Henan and a mine collapse in Inner Mongolia
· Rate Cuts on Existing Home Loans ‘Highly Probable,’ China Merchants Says
Bank’s Assistant President Peng Jiawen cites guidance from central bank to support homebuyers
· Country Garden Seeks 40-Day Grace Period to Avert Default
Troubled Chinese property giant plans to ask holders of $540.8 million debt to vote Aug. 31 on both grace period and extension of payments
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This article was generated by Caixin Automation.
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