China’s benchmark Shanghai Composite Index (000001.SH) lost 0.64% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.99%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.92% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.11%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· EU Probe of Chinese Steel Will Disrupt Global Supply Chains, China Warns
Commerce Ministry blasts subsidies investigation that’s expected to be part of a U.S.-EU deal to end Trump-era tariffs on European steel
· Nio Joins Auto Industry Rush Into the Insurance Business
EV startup acquires and rebrands Huiding Insurance Broker Co., following similar forays by BYD, Li, XPeng and traditional carmakers
· China’s Two-Child Policy Runs Out of Gas
Births fell 10% last year as the share of second babies declined and the third-child policy fell flat, the National Health Commission reports
· In Depth: Chinese Local Governments’ Latest Effort to Tackle ‘Hidden Debt’
Nine provincial-level governments plan to raise a combined $56 billion through special bonds to swap their implicit liabilities, bringing them onto the books
· Energy Insider: Looming Coal Mine Job Cuts, China’s Green Computing Power Push
China-U.S. climate envoys hold virtual meetings ahead of COP28, China’s highest-altitude wind farm linked to the grid, Beijing steps up support for electric buses
· In Depth: How Did Amethystum Become a Financial Black Hole?
Months after the one-time market darling got kicked off the STAR Market and authorities found fraud, unanswered questions remain
· At Least Three Chinese Nationals Killed in Israel-Palestine Conflict, Ministry Says
China has condemned the violence against civilians amid escalating attacks and called for an immediate ceasefire
· China Condemns Violence Against Civilians, Middle East Envoy Says
Zhai Jun made the comments while on a call with a senior Egyptian diplomat, as the death toll from the Israel-Palestine conflict reached over 2,200
· India Detains Four on Alleged Links to Vivo Money Laundering Probe
Chinese smartphone maker is one of several tech companies caught in a crossfire amid rising competition between Beijing and New Delhi
· China Tells Lenders to Pour Money Into Car and Consumer Credit
Top financial regulator issues sweeping call to spur auto sales, help new college grads and bolster a broad swath of enterprises
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