China’s benchmark Shanghai Composite Index (000001.SH) lost 1.65% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 2.97%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 4.11% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 3.04%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
Beijing government offers 20,000 extra EV license plates, Tesla’s Chinese rival hits accelerator on smart driving
· Finance Movers and Shakers: China’s New Vice Finance Minister, Ex-Policy Banker’s $3 Million Bribery
Highlights of the past fortnight include: Sovereign wealth fund set to get new VP, Taiping Life Insurance former executive pleads guilty in massive graft case
· China’s Surprise Rate Cuts Signals Shift to Short-Term Policy Rate Focus
The rate cuts are probably due to weaker-than-expected second-quarter GDP data and higher odds of a Fed cut in September
· Challenging Time for Trust Firms as Six Out of 10 Report Weaker Results
China’s 22.6 trillion-yuan trust industry has seen regulators rein in risks after a series of scandals
· Guangzhou Baiyunshan Chairman Steps Down Amid Investigation
Li Chuyuan, who has resigned from all his duties, was taken away by provincial authorities for questioning
· Plenum Explained: Implications for China’s Finance and Economy
Core to the reforms set in motion at the meeting are stabilizing the capital markets, reviving the ailing property sector and relieving indebted local governments
· Real Estate Slump Drags Down China’s June Land Sales Revenue by 35.3%
China’s national general public budget revenue fell by only 2.6% year-on-year in June, but non-tax revenue was down 16.4%
· Plenum Explained: Beijing to Bolster Industrial Chains, Promote Private Sector
A resolution adopted at the Communist Party Central Committee’s twice-a-decade meeting lays out a reform framework at a time when economic growth is slowing
· SAIC, Industry Group Rebut EV Tariffs at EU Hearings
The Chinese automaker and the CCCME criticize the anti-subsidy levies as ‘unfair’ and incompatible with World Trade Organization rules
· Plenum Explained: Reforms for Retirement, Social Security and Employment
The Communist Party vows to raise the retirement age, ensure fair access to social insurance and ensure key groups can find work
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This article was generated by Caixin Automation.
