China’s benchmark Shanghai Composite Index (000001.SH) gained 0.12% on Monday, while the Shenzhen Component Index (399001.SZ) rose 1.61%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.89% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.48%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China’s Family-Run Businesses Face Succession Issues
Millions of China’s family businesses are passing on the leadership baton to second generation “factory heirs” at a time when the the world’s second largest economy is facing unprecedented changes
· China, U.S. ‘Working Together’ on Biden-Xi Meeting at APEC Next Month
Chinese Foreign Minister Wang Yi met with U.S. Secretary of State Antony Blinken in Washington this week with the hope of securing meeting of the two leaders in San Francisco
· China’s Provincial Economies Fall Off the Pace in First Nine Months
Just 11 out of 31 provincial-level regions saw their economies grow faster than in the first half as the country struggles to maintain post-pandemic recovery
· China Mourns Li Keqiang as a ‘Loyal Communist Fighter’ Who Led Reforms
The nation’s former No. 2 official, who stepped down in March, was 68
Geely’s EV unit Zeekr to start selling vehicles in Hong Kong and Macao in 2024, Pony.ai gets $100 million investment from Saudi Arabia
· Archive: The Governing Style of Li Keqiang
In memory of the former premier, Caixin is republishing a story from March 2013 that offers a deep dive into how he tackled economic and social challenges during his five years as the nation’s first-ranked vice premier from 2008 to 2013
· Weekend Long Read: David Dollar — An Outstanding Economist Who Believed in Fact-Based Dialogue
Dollar, who passed away this month, helped advise the China government as it navigated through the 2008 global financial crisis, writes Bert Hofman
· Update: China’s Former Premier Li Keqiang Dies at 68
Li served as No. 2 under President Xi Jinping for a decade. He died early Friday morning after suffering from a heart attack
· Weekly Must-Read: The Struggle Facing Big-Box Supermarkets in China
Carrefour’s shrinking presence is emblematic of broader gloom that has befallen the country’s supermarket operators that are competing with e-commerce platforms and smaller stores
· Thunes Sets Up Digital Yuan Partnership With China Construction Bank
Singapore-based payment infrastructure platform to develop cross-border remittance systems for Chinese banking giant’s clients
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This article was generated by Caixin Automation.
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