China’s benchmark Shanghai Composite Index (000001.SH) lost 1.48% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.95%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.86% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.66%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Top Stories of the Month: How Can China Deal With Deflationary Pressure?
Although China’s economy showed signs of recovery in 2023, prices have not improved in tandem, with key economic indicators signaling a persistent decline
· CATL to Invest $1.83 Billion to Build First Offshore Wind Power Project
Fujian approves construction of an 800-megawatt offshore wind farm and energy storage unit which will provide green energy to CATL’s battery factory
· China’s Big-Three Airlines Expect 2023 Loss While Private Carriers Turn Profit
High oil prices, weak demand for international travel and fierce domestic competition keep profits out of reach but 2025 should see them take off again
· In Depth: China Intensifies Efforts to End Property Crisis
Financial and housing regulators have released more measures to ease developers’ liquidity crunch and stepped up pressure on banks to lend more
· Arms Smuggling Prosecutions Spark Debate Over What Constitutes a Gun Part
Hardware merchants facing charges ask if the goods they trade can really be counted as firearm parts and, if so, how they can tell
· China Boots Former Aerospace Academy Head From Political Advisory Body
Wang Xiaojun, ex-president of the China Academy of Launch Vehicle Technology, is the latest in a string of arms and aerospace executives ousted from the CPPCC
· Ex-President of Chinese Football Association Pleads Guity to Bribery
Chen Xuyuan accepted money and valuables worth $11.3 million in exchange for favors such as obtaining project contracts, court says
· Country Garden Offloads Overseas Projects to Address Debt Woes
Beleaguered developer reportedly lists London residential project on top of other liquidations as it looks to raise cash
· Hong Kong Home Prices Tumble to Seven-Year Low
No end in sight for longest run of falling housing prices since SARS outbreak of 2003
· China’s Statistics, Forex and Energy Agencies Get New Deputies
State Council appoints Ruan Jianhong deputy director of NBS, Wan Jinsong deputy head of NEA and Xu Zhibin as SAFE’s new deputy administrator
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This article was generated by Caixin Automation.
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