China’s benchmark Shanghai Composite Index (000001.SH) lost 1.78% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 2.77%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.81% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 3.25%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Banking Regulator Plans ‘Traffic Lights’ for Financial Sector
CBIRC’s 2022 goals include curbing the use of funds by banks and insurance companies for ‘blind overleveraging,’ financial monopolies and unfair competition
· Baidu, Geely EV Venture Raises $400 Million of Fresh Funding
Jidu Auto partnership to pour the funding into R&D and mass production of its first self-driving auto
· China’s Commerce Ministry Warns of Challenges to Foreign Investment in 2022
Covid-19 pandemic, changes to global supply chains, among factors contributing to ‘complicated’ international environment, official says
· China’s Tech Giants Take Stakes in More Companies as Crackdown Hits Growth
Tencent, Alibaba and ByteDance look for new ways to boost business as regulators tighten oversight
· Tough Controls Deter China’s Migrants From Long-Awaited New Year Reunions
One mother working in the Chinese capital was told by her hometown authorities that she would have to quarantine for 14 days before seeing her son
· China’s Troubled Developers May Find Solace in Managing Peers’ Projects, Analysts Say
Project management will give private builders a new role as state-owned players’ share of the market grows, one CEO argues
· Former Party Boss of Alibaba’s Home Town Expelled Over Business Ties
Zhou Jiangyong, once in charge of the internet hub of Hangzhou, has been removed from official duties for ‘supporting the disorderly expansion of capital’
· Beijing Urges Integration of Shenzhen, Hong Kong, Macao Insurance Markets
Regulators have been working to develop a connect program in a bid to solve problems in cross-border services
· Trending in China: Suicide of Teenager Rejected by Birth Parents Sparks Debate Over Online Bullying
The 17-year-old’s story had gone viral in December with his successful quest to find his biological family, but support drained away the more he posted
· Ministry Warns China’s Export Growth Faces ‘Unprecedented Difficulties’
While momentum might be lost, the country will focus on improving the quality of foreign trade this year, while maintaining growth in a ‘reasonable range,’ Ministry of Commerce official says
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This article was generated by Caixin Automation.
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