China’s benchmark Shanghai Composite Index (000001.SH) lost 0.71% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.67%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.25% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.32%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Creates New Agency to Support Private Sector
Private economy development bureau will report to the NDRC and be assigned to bolster the economy’s biggest source of jobs
· China’s ‘Copper King’ Barred From Nonessential Spending
Court issues order affecting billionaire Wang Wenyin and his Amer International Group in relation to contract disputes
· Caixin China New Economy Index Expands on Rising Investment
The gauge that tracks the size of high value-added industries such as biotech ticked up to 30.4 in August, the second straight month of growth
· Cover Story: Are Chinese Solar Giants Flying Too Close to the Sun?
Ballooning excess capacity, which already outstrips demand, could force out many Chinese solar companies in coming years amid tumbling global prices
· Head of China’s Top Military Court Removed From Post After Just Eight Months
Cheng Dongfang, the president of the People’s Liberation Army’s Military Court, was removed after a vote by Standing Committee of the National People’s Congress without giving a reason
· Chinese Premier Li Qiang to Visit Indonesia for ASEAN Summit
Li will also meet with Indonesian President Joko Widodo to discuss issues of ‘mutual interest’ during the four-day official trip
· Weekend Long Read: Why Adapting to Climate Change Has Become a Necessity
Jiang Zhaoli, an official spearheading China’s response at the environmental ministry, tells Caixin that adaptation is growing more urgent as extreme weather becomes the ‘new normal’
· China Tightens Oversight of Program Trading in Stock Market
CSRC issues new rules including a monitoring and reporting mechanism to put computer-driven algorithms under closer scrutiny
· Opinion: China’s Economic Stability on the Horizon
A deep dive into key measures of business sentiment finds significant evidence the economy is poised to turn a corner
· Opinion: China’s Property Market to See Short-Term Boom
As the country’s four biggest cities have allowed more people to enjoy lower mortgage rates and down payments, housing markets in first- and second-tier cities will get a boost in September and October
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This article was generated by Caixin Automation.
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