China’s benchmark Shanghai Composite Index (000001.SH) lost 0.69% on Friday, while the Shenzhen Component Index (399001.SZ) fell 1.03%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.25% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.27%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Xi’an Cuts Off Air Travel in Escalated Covid Lockdown
Capital of northwestern China’s Shaanxi province records 234 new infections traced back to a traveler from Pakistan who arrived Dec. 4
· China Slashes Payment Service Licenses by 20%
Central bank renews 40 licenses, bringing renewals this year to 213 as regulators step up supervision of the sector to contain financial risks
· Analysis: What to Expect of China’s Economy in 2022
The word ‘stability’ was mentioned 25 times in the Central Economic Work Conference readout. Here’s a breakdown of what this means
· Cash-Strapped North China City Condemned for Arbitrarily Fining Businesses
Beijing criticizes the city of Bazhou for levying fees and penalties for no reason to offset its revenue shortfall
· Tencent to Hand $16 Billion Stake in JD.com to Its Shareholders
The internet giant will no longer be the e-commerce company’s biggest shareholder
· Booster Shots May Be Key to Protection From Omicron, Study Shows
In a peer-reviewed paper, Chinese researchers found that the variant was better able to evade the immunity gained from only two shots
· Year in Review: China’s Diplomacy in 2021 — Strategic Defense and Counteroffensive
Against a hawkish diplomatic encirclement from the West, Beijing has focused its efforts on tactics such as winning new friends in the Western bloc and maintaining a toned-down but organized ‘wolf warrior’ rhetoric
· China Minmetals Confirms Merger That Will Form Rare Earths Behemoth
Restructuring of state-run units may result in group that produces more than two-thirds of nation’s output of the heavier elements essential for producing electric vehicles and consumer electronics
· Celebrities Have Until End of Next Week to Admit Tax Dodging, Five Chinese Regions Say
In identical notices, wealthy cities and provinces say those who confess will face lighter punishment
· Authorities Kick Former Banking Regulator Out of Party and Public Office
The former senior rural banking regulator is removed from public office for violations including accepting bribes
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This article was generated by Caixin Automation.
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