China’s benchmark Shanghai Composite Index (000001.SH) gained 0.07% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.24%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.33% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.08%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Bondholders Slam Sino-Ocean’s Restructuring Plan as Debt Evasion
Creditor group takes out full-page newspaper ad to force Sino-Ocean to improve the terms
· Hengli Boosts Shipbuilding Capacity with $1.5 Billion Expansion and Listing Plan
Building starts on Changxing Island shipyard amid reports of a $100 million IPO
· EV-Maker Zeekr Irks Customers With All-Too-Frequent Upgrades
Chinese firm releases 2025 versions of its most popular cars within months of rolling out the previous lineup, as well as a steep price reduction for one model
· After Reports of Layoffs, GM Says It’s Committed to China
American carmaker made a $210 million loss in the country in the first half
· Energy Insider: China’s ‘Comprehensive’ Green Transition Plan, NEVs Outsell Fossil-Fuel Cars in July
State-owned giant completes huge oil and gas platform for Saudi Arabia, Beijing issues draft rules on battery recycling
· Weekly Must-Read: Fixing China’s Trade Imbalance Needs a Home Remedy
The growing trade surplus underscores structural issues within China’s economy, which experts say can be fixed by intensified government efforts to boost domestic consumption
· Ex-Leader of Scandal-Plagued Province Pleads Guilty in $113 Million Bribery Case
Sun Zhigang, a former Communist Party chief of Southwest China’s Guizhou, is accused of taking advantage of his positions to help others get project contracts and develop real estate, a court says
· Vanke Continues Slimming Down with Asset Securitization
Builder sets up $311 million fund with partners to take over its interest in Beijing and Shenzhen malls
· Nanchang State Firm Takes Control of Private Lender Yumin Bank
Acquisition marks the first time a state-owned company has taken control of a Chinese private bank
To phase out the fossil fuel, the country needs a carefully planned roadmap, rather than more investment in ‘clean coal’ and ‘low-carbon coal’
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This article was generated by Caixin Automation.
