China’s benchmark Shanghai Composite Index (000001.SH) gained 0.31% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.47%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.64% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.95%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Economy Expands at 5.3% in 2023, Caixin Survey Shows
Chinese economy is showing signs of stabilizing after its bumpy ride following the lifting of Covid restrictions and a property slump, say economists
· Hong Kong Prepares to Launch First Spot Crypto ETFs in Asia
Ten fund management companies eager to start trading ETFs but regulation uncertainties mean launch could take three to six months, says industry insider
· Disgraced Former China Soccer Coach Admits Match Fixing, Bribery
Li Tie, former head coach of the national men’s soccer team, made the admission in a documentary series co-produced by state broadcaster CCTV that detailed ‘all-round’ corruption in the sport
· Beijing Health Insurance Director Detained, Source Says
Zheng Jie, a director at the Beijing Municipal Medical Insurance Bureau, was taken away on Dec. 29 without explanation, source says
· Former China Central Bank Deputy Governor Abused Power for 30 Years
Veteran banker Fan Yifei took advantage of financial market rules and traded influence for bribes, a CCTV anti-graft docuseries reveals
· Iflytek to Spin Off Loss-Making Health Care Arm
The Chinese AI developer is looking to float its medical device and diagnosis business Xunfei Healthcare Technology in Hong Kong
· Schwab: Rebuilding Trust in the Future
After an era that lifted a billion people out of poverty, the anxiety about losing control is pushing people toward embracing extreme ideologies
· State Companies’ Rush to Clean Energy Sparks Bubble Fears
China’s rapid dash for wind and solar power mean it is six years ahead of its green target but concern grows that it is fueling an investment bubble
· UBS Economist Expects Less Property Drag on China’s Economy in 2024
Wang Tao expects the Chinese economy will have a growth rate of 4.5% in 2024 with fiscal support limiting the impact of the property slump
· Hong Kong IPOs Expected to Rebound to $12.8 Billion in 2024
Three of the top four global accounting firms predict an IPO comeback for Hong Kong in 2024. Reclaiming its position in the top five bourses
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This article was generated by Caixin Automation.
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