China’s benchmark Shanghai Composite Index (000001.SH) lost 1.15% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 1.58%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.73% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.69%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· CATL Shares Nosedive Amid Speculation on Weakened Tesla Tie
Chinese battery giant denies report of change in strategic relationship with its biggest customer because of new U.S. EV subsidy rules
· Chinese Debt Collector Suspends Business After Police Raids
Hunan Yongxiong Asset Management decides to prepare for a ‘worst-case’ scenario after 179 employees were taken away
· Photo Essay: The Struggle of Home-Based Day Care in China
Childcare centers run out of people’s homes have been growing in popularity, but the lack of specialized regulations poses challenges to the industry
· Russia, Ukraine Open to Peace Talks but Obstacles Remain, China’s Peace Envoy Says
Li Hui’s comments follow a 12-day tour of Europe where he met with officials from Poland, Germany, France, Russia, and Ukraine, including the latter’s president, Volodymyr Zelenskyy
· Cover Story: China’s Consumers Are Flush With Cash, So Why Does the Recovery Have the Wobbles?
Risk averse consumers are shying away from borrowing and instead focusing on saving their cash and repaying debts, undermining the effectiveness of loose monetary policy
· Chinese Official Rebuffs Pentagon Chief’s Criticisms at Security Summit
Lloyd Austin’s comments about Taiwan at the Shangri-La Dialogue ignored the facts and distorted the truth, Chinese lieutenant general Jing Jianfeng says
· Chinese Computer Maker Says Its Chip was Made With ‘Support’ From Intel
Powerleader Computer System came under fire after industry experts revealed its new processor unit was seemingly identical to a product made by the U.S. giant
· Weekend Long Read: How to Get China’s Super Savers to Spend More
The growing tendency to sock money away in banks poses a challenge to the economic recovery
· Tobacco Corruption Probe Ensnares Retired Top Yunnan Executive
Zhu Shaoming, former head of China Tobacco’s biggest provincial unit, comes under investigation by graft busters
· Another China Development Bank Ex-Official Comes Under Probe
Graft busters focus on Mao Juncai, former president of top policy lender’s Shanghai branch, adding to a long list of scandals
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