China’s benchmark Shanghai Composite Index (000001.SH) lost 0.66% on Friday, while the Shenzhen Component Index (399001.SZ) fell 1.55%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.57% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.84%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Hong Kong-Traded GCL-Poly Energy Plans Mainland Share Sale
Solar power equipment maker may join rush of rivals into the A-share market, where investors favor the sector more than those in Hong Kong and the U.S.
· Energy Insider: Regulators Step Up Scrutiny of Iron Ore Prices
NDRC puts the brakes on surging coal prices; solar panel parts makers are under pressure; steel industry gets five more years to top out carbon emissions
· Developers’ Borrowing Plunges 70% in January as Market Cools
Real estate sector’s financing shrinks for an 11th straight month despite recent easing signals from regulators
· Billionaire Zhang Jin Under Pressure to Pay $3.15 Billion Due Investors
Founder and chairman of commodities giant Cedar Holdings demurs as holders of investments issued by the company demand that he take personal responsibility
· Hong Kong Hospitals Overwhelmed as Daily Covid Cases Top 1,000
The omicron wave is bringing more patients to already overstretched emergency wards
· China Plans More Rules to Ease Academic Burden on Children
The government’s ‘double reduction’ policies which were applied to elementary and middle school pupils last year will this year apply to senior high school students
· Opinion: History Reveals Why China’s Netizens Are Obsessed With Moral Judgment
Moral preemption is the dominant strategy in hierarchical societies and is often used to score victories over opponents
· Evergrande Vows to Finish Half of Units Under Construction This Year
Pledge reflects how one of China's largest real estate firms is desperate to raise cash to pay bills through housing sales, given its challenges with borrowing money due to default risks
· Chinese Banks Required to Strengthen Due Diligence for One-Off Withdrawals Exceeding 50,000 Yuan
Lenders will have to verify the identity of customers under new rules aimed at curbing money laundering and fraud
· In Depth: Why China’s Once Red-Hot Solar Sector Is Cooling
The industry has outrun supply of its chief raw material, and rising prices of downstream components are leaving profitability of new projects at risk
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This article was generated by Caixin Automation.
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