China’s benchmark Shanghai Composite Index (000001.SH) lost 1.46% on Friday, while the Shenzhen Component Index (399001.SZ) fell 2.24%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.41% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.43%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Energy Insider: Beijing Spurs Development of ‘Future Energy,’ Clean Energy Drives China’s Growth
Coal remains the country’s ‘main power source,’ battery king branches into offshore wind, German drugmaker inks green energy deal with China Resources Power
· Weekly Must-Read: China’s Local Governments Paid Record $174 Billion in Bond Interest Last Year
Total is up nearly 10% from 2022, with outstanding debt climbing by 16% last year
· Syngenta has ‘No Timetable’ for IPO But Deal Will Take Place, CEO Says
Uncertainty still surrounds $9 billion flotation as weak market conditions cause delays
· U.S. Firms Cautious About Investment in China Despite Improved Results
China remains one of the top three global investment priorities for half of the U.S. companies surveyed, although bilateral tensions raise concerns
· Chinese Startup Raises $943 Million to Fund Race with Starlink
Money raised will be used to develop and build a low-orbit satellite constellation that will provide broadband access to the internet
· BYD Signs Preliminary Agreement to Build First European Auto Factory in Hungary
Chinese firm says EV plant will be up and running in three years although experts warn complex European compliance rules may delay this timetable
· U.S. Commerce Department Verifies More Chinese Trade Entities After Policy Shift
Bureau of Industry and Security has completed 130 site visits at Chinese companies since October 2022, after the introduction of a policy prompting faster end-use checks of foreign entities
· In Depth: Why China’s Aid for Victims of Crime Has Fallen Short
Two men convicted in a decades-old fatal poisoning case of seven schoolboys were sentenced to death this month, but the victims’ families were compensated only 49,000 yuan despite demanding 7.6 million yuan
· Wind and Solar Power Capacity to Surpass Coal for First Time in China
The renewable energy sources will make up around 1,300 gigawatts of the country’s installed capacity by the end of 2024, industry body says
· Hong Kong Property Mogul Ronnie Chan to Retire
Hang Lung Group announces Chan’s eldest son will take over his seat as board chairman in April
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
