China’s benchmark Shanghai Composite Index (000001.SH) lost 1.26% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 2.4%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.5% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.81%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cities Revise Housing Policy as Families Turn to Larger Homes
Shanghai, Shenzhen move to meet demands for larger families and more space
· Smart Driving Startup Horizon Robotics Seeks Hong Kong Listing
Firm says its share of Chinese autonomous driving market rose to 9.3% in 2023 from 1.1% in 2021
· Rivals Vie to Fill Market Void as U.S. Business Ban Looms Over TikTok
Many TikTok users and advertisers are already shifting attention to YouTube, Instagram, and other rivals
· TikTok’s Fate Hangs in the Political Balance Ahead of U.S. Presidential Election
Uncertainty about the timing of Senate action on a bill that would ban TikTok in the U.S. adds to lack of visibility on the Chinese firm’s fate
· ByteDance Unit Feishu to Lay Off Staff in Effort to Boost Efficiency
The TikTok owner’s workplace collaboration tool aims to become more focused and efficient as it undergoes a restructuring, unit’s CEO says
· U.S. Fiber-Optic Connector Maker Alleges Chinese Firms’ Imports Infringe Patents
US Conec files complaint with U.S. trade watchdog alleging violations of its intellectual property rights by 19 companies including five from the Chinese mainland
· Robotics Expert Takes Helm of Chinese Glass Billionaire’s University
Wang Shuguo named president of the East China-based private institution funded by entrepreneur Cao Dewang
· Ex-Provincial Official Gets Life for Causing ‘Significant Loss’ to Public Assets and Bribery
Yi Pengfei, a seasoned Communist Party official from Hunan province, took $11.2 million in bribes over two decades
· PBOC Governor Says Property Market Shows ‘Positive Signs’
Real estate sector has a solid foundation for healthy development over the long term, China’s central bank chief, Pan Gongsheng, told the China Development Forum
· Exclusive: Citic Group’s Personnel Shuffle Extends to Venture With Prudential
Chang Ge, head of wealth management at Citic Financial, is set to become general manager of Citic-Prudential Life Insurance
Click here to read more of the latest news.
This article was generated by Caixin Automation.
