China’s benchmark Shanghai Composite Index (000001.SH) lost 1.11% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 1.98%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.69% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.97%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Pushes Back on Mark Mobius Money-Transfer Complaint
Billionaire investor says on TV to be ‘very careful’ after he couldn’t move funds to Hong Kong from Shanghai, but authorities maintain the rules are the rules and haven’t changed
· China Sees Land Sales Flat at $1.1 Trillion This Year
Biggest source of local government revenue will stagnate after plunging 20% in 2022, Ministry of Finance projects in budget report
· Premier Li Highlights Financial, Real Estate Risks in Final Report to China’s Top Legislature
The strong focus on risk prevention shows the government is concerned about overstimulating the economy in the short term, say analysts at Morgan Stanley
· Photo Essay: The Plight of China’s Blind Storytellers
Covid regulations, inability to earn an income and dwindling prospects for young people could signal the end of a folk art dating back to the Song Dynasty
· PBOC to Keep Yuan Steady Against the Dollar, Yi Gang Says
The central bank chief promises to maintain a market-driven approach following the currency’s increasingly wide swings in recent years
· China Green Bulletin: Chinese Lithium Firms Have Bolivia in the Crosshairs
The South American country has the world’s largest reserves of the key EV battery raw material, but political and practical obstacles have prevented the nation from becoming a significant global supplier
· Chinese Stocks Decline as Congress Sets Modest Growth Target
Premier Li Keqiang announced a lower-than-expected growth goal of around 5% for this year, raising concerns that authorities will withhold stimulus
· Cover Story: TikTok’s Chinese Twin Is Taking On Alibaba and Meituan for E-Commerce Market Share
Like ByteDance’s TikTok, the Douyin video sharing app deploys live-streaming in the competition for consumers in the online marketplace
· Update: China Sets 2023 GDP Growth Target at Around 5%
Premier Li Keqiang announced the target as he delivered his final government work report at the annual ‘Two Sessions’
· Weekend Long Read: How a Lack of Conviction in Values Leaves Ambitious Movies Feeling Hollow
It’s hard for directors to move an audience with a big idea if they don’t really believe it themselves
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This article was generated by Caixin Automation.
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