China’s benchmark Shanghai Composite Index (000001.SH) lost 1.83% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 2.4%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 3.79% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.47%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· 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
· CATL Hitches Up With Didi, Broadening Move in Battery Swapping
The new joint venture will provide the Chinese ride-hailing giant with battery swapping services for its expanding fleet of electric cars
· Drug-Resistant Fungal Pathogen Infections Surged in China in 2023, Study Shows
Researchers found 182 cases of Candida auris in 10 regions last year, a marked increase from the single and double-digit numbers in the previous seven years
· Corrupt Former Policy Bank Vice President Gets 20 Years Behind Bars
He Xingxiang found guilty of taking bribes, hiding offshore deposits, and illegally issuing loans and bank guarantees
· China’s Outstanding Personal Mortgage Loans Post First Fall In Almost 20 Years
The decline can be largely attributed to the protracted property market downturn and homebuyers repaying their mortgage loans in advance, according to analysts
· Merck Signs Its First Long-Term Green Energy Purchase Deal In China
German drugmaker will buy 300 gigawatt-hours of electricity generated from renewable sources from China Resources Power over the next 10 years
· Weekend Long Read: Chinese Find Peace Among the Pitfalls of Midlife Move to Japan
About a quarter of the country’s long-term foreign residents are from China, who treasure the less stressful lifestyle despite the daily trials of living abroad
· China’s Debt-to-GDP Ratio Climbs to Record 287.8% in 2023
Macro leverage ratio rises 13.5 percentage points from year earlier despite sluggish borrowing as economic growth slows
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This article was generated by Caixin Automation.
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