China’s benchmark Shanghai Composite Index (000001.SH) lost 1.74% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 1.65%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) ended nearly flat for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.28%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Distressed Country Garden Logs First Bond Default
Real estate developer misses deadline this week for $15.4 million interest payment on dollar bonds
· China’s Changan Automobile to Build NEV Plant in Thailand
State-owned automaker agrees to invest $242 million in factory with plans to sell output domestically and in export markets
· Investment in Chinese Real Estate Dropped 9.1% in First Three Quarters
Contraction accelerated from the first eight months amid the industry’s ongoing crisis as developers spent less on land and construction
· Xi Vows to Further Open Up China at Belt and Road Forum
China will remove all restrictions on foreign investment in manufacturing and sign free trade agreements with more countries, president says
· Fraud Syndicate Leader in Myanmar May Have Faked His Chinese Residency, Sources Say
One of the two leaders in a cross-border telecom fraud syndicate may have illegally obtained his Chinese ID card by falsifying household registration information in Guangdong, local residents tell Caixin
· Gemdale Plunges on Chairman’s Resignation and Debt Concerns
Ling Ke steps down after 25 years, citing health issues, intensifying investor concerns about the developer’s financial stability
· Chinese Belt and Road Loans Total $687 Billion Over a Decade
China marks the 10th anniversary of President Xi Jinping’s global infrastructure project, hosting 140 nations at a forum in Beijing
· State-Owned Companies Buy Back Shares to Boost Investor Confidence
Amid China’s stock market slump, 50 state-owned enterprises roll out buybacks or announce plans by big stockholders to expand their holdings
· China’s Tsingshan to Invest $233 Million in Chile Lithium Plant
Chilean President Gabriel Boric unveils deal on visit to Beijing for Belt and Road Forum after China’s BYD started $290 million lithium project there
· Putin and U.N. Chief to Speak at Belt and Road Forum
More than a dozen global leaders will be in Beijing for the conference, which takes place amid heightened geopolitical tensions stemming from the Israel-Hamas conflict and Russia-Ukraine war
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This article was generated by Caixin Automation.
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