China’s benchmark Shanghai Composite Index (000001.SH) lost 1.24% on Monday, while the Shenzhen Component Index (399001.SZ) fell 1.32%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.34% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.6%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China’s ‘Hidden Debt’ of Local Governments Threatens National Economy
Property slump is undermining borrowers’ ability to repay
· China Launches Joint Crackdown on Organized Crime With Thailand, Myanmar
Laos is also part of the campaign to stamp out illegal gambling, fraud and human trafficking along the shared borders of the four countries
· Chinese Flying Car Maker One Step Closer to Take Off For Commercial Use
EHang has completed all the necessary tests for obtaining a type certificate ‘soon’ for its flagship electric vertical takeoff and landing aircraft
· Guangzhou Mulls Housing Vouchers to Revive Home Market
Families affected by urban renovation projects would get transferable vouchers they could use to buy new housing
· New Indicator Shows China’s Consumers Are Spending — on Services
As the structure of Chinese household spending changes, the statistics bureau has started a new indicator to measure the growth of services consumption
· China Detains Chief of Top Immigration Consultancy for Illegal Forex Trading
Four other employees of firm identified by state-backed media as Shanghai-based Wailian Group were also arrested for handling exchanges in excess of 100 million yuan
· Texas Hold ’Em Gives Way to ‘Throwing Eggs’ as China’s PE Funds Woo Yuan Investors
As U.S.-dollar investors turn their backs on Chinese mainland startups, private equity and venture capital funds are courting Chinese institutions who have very different requirements
· The Charge of ‘Picking Quarrels and Provoking Trouble’ Has Been Abused, China’s Top Court Says
A survey by a senior judge at the Supreme People’s Court found a ‘clear tendency’ among local courts to generalize when ruling on cases involving the crime
· China’s Securities Regulator Steps Up Efforts to Bolster Sagging Market
CSRC pushes bourses to cut transaction fees and stay open longer to counter economic gloom dragging stocks lower
· Weekend Long Read: A Road Trip to Nelson Mandela’s Hometown
A 2018 winter visit to Mandela’s birthplace and burial site in South Africa would leave a lasting impression on Hu Shuli, founder and publisher of Caixin Media, about the man and the country he led
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This article was generated by Caixin Automation.
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