China’s benchmark Shanghai Composite Index (000001.SH) lost 0.96% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 1.3%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.86% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.36%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Travel Site Mafengwo Secures New Funding From State Investors
Southwestern China’s Guizhou province provides undisclosed backing for 17-year-old ‘hornets nest’ as post-pandemic travel rebounds
· Chinese Banks Report Slower Profit Growth for 2022
Declining interest rate margins to help spur the economy help hold the industry’s earnings growth to 5.4%, down from 12.6% in 2021
· Trending in China: More Women Just Say ‘No’ to Having Kids
A new survey shows the percentage of Chinese women choosing to remain childless jumped to nearly 10% in 2020 from 6.1% five years earlier
· In Depth: How China’s Personal Credit Reporting Rules Upended an Industry
Insiders in the fintech, big data and banking industries see a host of side effects resulting from implementing regulations designed to better protect individuals’ data
· China’s Top Soccer Official Targeted in Graft Probe
Chen Xuyuan, the Chinese Football Association’s first full-time president since its founding in 1955, is the latest in a string of officials under investigation within the sport
· China’s Renewable Energy Capacity Overtakes Coal for First Time
New additions to solar power generation fueled the jump in 2022 as the sector looks set to meet ambitious carbon emissions goals
· Online Grocer Dingdong Posts First-Ever Quarterly Profit After Slashing Costs
The turn to profitability also comes with the demise of former archrival Missfresh, which in July shuttered its mainstay instant-delivery retail business
· China to Lift South Korean Visa Freeze
Beijing will resume issuing short-term visas to South Korean nationals, ending most of the retaliatory measures taken after Seoul’s Covid curbs on travelers from China
· Empty Containers Pile Up at Global Ports as Trade Slows
Shipping demand falls off in post-Covid slump, leaving stacks of empties on docks from Shanghai to Los Angeles to Antwerp
· Analysis: What Will Drive Pfizer’s Growth After Covid?
Coronavirus vaccines and treatments fueled the drug giant’s global revenue surge to over $100 billion last year while other products stagnated
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This article was generated by Caixin Automation.
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