China’s benchmark Shanghai Composite Index (000001.SH) lost 2.61% on Monday, while the Shenzhen Component Index (399001.SZ) fell 3.67%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 3.75% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 4.2%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Beijing Vows to Accelerate Implementation of New Overseas IPO Rules
Head of securities regulatory body says channel of overseas listings will be kept ‘unclogged’ after Chinese companies shelved foreign listings, raising the ire of investors
· Shanghai to Ease Strict Lockdown Measures for Covid-Free Areas
At-home confinement will be lifted for those in residential communities that have been Covid-free for the previous seven days as anger mounts over access to food and medical care
· Weekly Must-Read: China Turns to Credit Easing to Kick-Start Sluggish Economy
Credit demand has been declining while the rapid recovery from Covid-19 has begun to stutter
· China’s Guangzhou Announces Mass City-Wide Covid Testing
The city, which hosts one of the country’s top container ports, reported two symptomatic cases and an asymptomatic one for Friday
· China’s Home Sales Plunge 47% Despite Government Support
Top 50 Chinese property developers report first-quarter debacle during peak selling season amid pandemic shutdowns and rising consumer pessimism
· European Firms Feel the Pain of China’s Covid Resurgence, Business Group Says
Executives at European Chamber of Commerce say containment measures are obstructing supply and hindering delivery of products overseas
· Shanghai Residents Run Low on Fresh Food as Covid Lockdown Creates Logistics Chaos
Community group buying provides a lifeline for some, but a shortage of workers is leaving food undelivered
· Chinese Migrants Make the Top 10 of Singapore’s Forbes Billionaire List
The city-state has attracted a number of wealthy Chinese who have made their fortunes in the catering, medical device and e-commerce industries
· Former HKEX Boss’ Investment Startup Hopes to Harness Machine Learning
Hong Kong-based funding platform Micro Connect aims to help global capital link up with small businesses on the Chinese mainland
· CATL’s First Overseas Factory to Begin Making EV Batteries by Year’s End
Located in Germany, the new plant has been greenlighted to produce up to 8 gigawatt-hours each year
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This article was generated by Caixin Automation.
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