China’s benchmark Shanghai Composite Index (000001.SH) lost 0.74% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.61%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.54% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.15%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Shanghai Supermarket Chain Goes Bust As Business Slows
China’s slowing economy is forcing many consumers to cut back while others are turning to e-commerce
· Nonbank Payment Providers Get Five Years to Comply With New Rules
Guidelines clarify issues of concern in the industry and detail measures for complying with the new rules
· China’s Macro Leverage Ratio Rises to 294.8% Despite Slower Borrowing
China’s overall borrowing has been slowing down with total liabilities expanding only 8.8%, the lowest quarterly grown since 2001
· China’s SPBs Issuance Slows in First Quarter From Pandemic-fueled Spending Spree
Some put the slow pace of SBS issuance down to the unusual 1 trillion yuan sovereign fund bonds issued at the end of 2023 for infrastructure projects
· Li Auto Joins Price War with Major Discounts Following Tesla and BYD Cuts
Fierce competition will lead to survival of the fittest which will cultivate internationally competitive Chinese carmakers, says expert
· Authorities Warn Deadly South China Floods May Get Worse
Dire prediction comes as floods have already killed at least four people, forced tens of thousands from their homes
· Commentary: Why Has Gold’s Inverse Relationship With the Dollar Reversed?
Trump’s growing popularity among voters is fueling the change, as his return to the White House is likely to be followed by a loosening of fiscal policy
· U.S. Secretary of State to Make Second China Trip in Less Than a Year
Antony Blinken is set to arrive for a three-day visit Wednesday at the invitation of the Chinese foreign minister, Wang Yi
· Opinion: China’s Capital Market Rules Get Sharper Teeth
The latest set of ‘National Nine Articles’ offers a roadmap for achieving high-quality economic development through better regulation
· Beijing Vice Mayor Investigated for Corruption
Gao Peng has been in his post for just over a year and is responsible for urban management,transportation, agriculture and rural affairs
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This article was generated by Caixin Automation.
