China’s benchmark Shanghai Composite Index (000001.SH) lost 0.92% on Friday, while the Shenzhen Component Index (399001.SZ) fell 1.38%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.79% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.66%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Spending Slump Is Crushing Global Carmaker Profits
BMW and Volkswagen reported declining second-quarter earnings after their sales fell in the world’s biggest auto market, where a deepening housing crisis is weighing on spending
· Centaline Expands into Family Office Market With a $1 Billion Target for 2025
Hong Kong property agency seeks to diversify into asset management services for its high-net-worth clientele
· Beijing Financial Assets Exchange to Become a Bond Market Powerhouse
Last financial assets exchange to get new role handling interbank bond issuance
· Shanghai Stock Exchange Veteran Investigated, Sources Say
Dong Guoqun, an executive vice president of the bourse, was taken away by the authorities in July after an inspection by the top corruption watchdog
Shanghai unveils ambitious offshore wind plan, Beijing exchange mulls long-term green power contracts, renewable power capacity balloons in first half
· China’s SAIC Motor Downplays EU Tariff Concerns
A diverse line-up of hybrid electric models, plug-in hybrids and conventional vehicles will help the state-owned automaker offset losses, new president says
· China Adds Drone Components With Military Applications to Export Blacklist
Chinese drone-makers have faced sanctions and criticism for allegedly supplying Iran and Russia
· Weekly Must-Read: ‘Exorbitant’ Fines Land Temu in Hot Water With Chinese Merchants
Hundreds gathered outside Temu’s Guangzhou offices to voice anger at the platform’s increasing levying of penalties for product defects without providing evidence
· Sichuan Province Elects New Governor
Shi Xiaolin, 55, is China’s youngest female provincial chief
· Zhengzhou Scraps New Home Price Cap to Help Wake Up the Real Estate Market
Move marks end of a regulatory framework set up in September 2016 to curb rapidly rising housing prices
Click here to read more of the latest news.
This article was generated by Caixin Automation.
