China’s benchmark Shanghai Composite Index (000001.SH) gained 0.22% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.2%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.77% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.9%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Guangzhou Records First Drop in Leased Office Space in a Decade
Contraction signals cooling business activity in China’s southern trading hub triggered by Covid disruption
· Citic Securities Cleared for New Asset Management Unit
Venture paves the way for China’s largest brokerage to join an industry rush tapping into the mutual fund business
· Ant Group’s Lending Unit Gets Approval for $1.5 Billion Capital Boost
The capital expansion is seen as a necessary move for Chongqing Ant Consumer Finance to maintain its lending business
· Year in Review: China’s Property Market at a Turning Point
The government began last year to ease up on a clampdown that upended the industry, but developers won’t be able to rely on the business model of the past
· Tech Insider: GAC Aion’s Premium EV, Huawei’s Flat Revenue
Dongfeng Nissan plans to use Horizon Robotics’ AI chips, CATL supplier lists in Shenzhen
· Out-of-Town Trips Make a New Year’s Comeback in China
About 60% of online travel agency Trip.com’s domestic users journeyed to another province or region during the three-day weekend, up from 40% last year
· Caixin New Economy Index Falls on Declining Labor Inputs
The contribution of high value-added industries such as biotech came in at 29.7 last month, down 0.3 points from November
· Communist Party Names New Diplomatic Chief to Shape China’s Foreign Policy
Former minister Wang Yi has taken the helm at the party’s Central Foreign Affairs Commission
· Regional Trade Pact RCEP Takes Effect for Indonesia
With the Southeast Asian country on board, the trade deal has entered into force for 14 of the 15 participating countries
· Cover Story: China’s Road to Economic Recovery Faces Post-Covid Speed Bumps
Policymakers are now squarely focused on reviving the economy. But some analysts warned against ‘excessive optimism’ about when pre-pandemic growth rates will return
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This article was generated by Caixin Automation.
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