China’s benchmark Shanghai Composite Index (000001.SH) lost 0.92% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 1.06%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.43% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.99%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Vows to Create a ‘Bigger, Better, and Stronger’ Private Sector
Measures aim to create a more level playing field for private businesses and entrepreneurs amid sluggish economic growth
· China’s CMOC to Pay $800 Million to End Congo Mining Spat
The Chinese company will also pay at least $1.2 billion in cumulative dividends to Gecamines over the life of the project
· China Patches Up Loopholes in GDR Issuance
New rules prevent shareholders from lending domestically-listed shares to brokerages
· Fugitive Chief of State Energy Giant Surrenders after Four Years on the Lam
Guo Qigang fled China amid an investigation into allegations of “serious offenses” during his tenure
· Huawei Launches AI for Commercial Use in Mining Sector
Developed with state-owned Shandong Energy and Yunding Tech, the Pangu Mine Model has been deployed in the coal giant’s facilities in Shandong province
· Citic to Cut Costs by Relocating Hong Kong Bankers to Mainland, Sources Say
The measure by China’s largest brokerage will likely prompt other mainland-funded peers in the city to follow suit, a source tells Caixin
· Hainan Airlines Operator Plans Jet Buying Spree
Liaoning Fangda aims to expand the fleet from more than 800 to 1,000 in six years, as it attempts to turn around the former flagship carrier of bankrupt HNA Group
· Former Top Provincial Lawmaker Gets Life for Taking 1 Billion Yuan in Bribes
Sun Guoxiang, ex-deputy head of the Liaoning legislature’s standing committee, accepted money in exchange for favors that included helping companies obtain bank loans
· Deputy General Manager of China Taiping Falls under Probe
Sources say the investigation into Xiao is part of a wider crackdown that has officials in Shanghai shook
· China Unveils New Plan to Boost Household Consumption Amid Slow Economic Growth
New measures aim to increase spending but are being introduced amid housing market troubles, a key indicator tied to household consumption
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This article was generated by Caixin Automation.
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