China’s benchmark Shanghai Composite Index (000001.SH) gained 0.36% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.64%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.49% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.69%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Opinion: Significance of Jack Ma’s Reappearance Should Not be Underestimated
Alibaba co-founder’s well-publicized visit to a local school signals a shift in China’s treatment of big tech
· Weekly Must-Read: Alibaba Splits Into Six Business Units in Biggest Overhaul
The $220 billion e-commerce colossus will become a holding company and grant management and financing independence to the new enterprises
· Raging Price War Poses Survival Threat for Automakers
Only a handful of EV and smart car winners may remain standing as China’s crowded vehicle industry faces a massive shake-out
· China Mobile Buys $6.5 Billion Stake in Postal Savings Bank
Government-controlled telecom giant will become the third-largest shareholder in the state-owned bank
· Fosun International Profit Plunges 95% in 2022
Market turmoil and Covid outbreaks almost wipe out earnings for a conglomerate also mired in a debt crisis
· Four Things to Know About How China’s PE Funds Are Helping Revive Real Estate
Private equity funds were this month allowed to start applying for permission to invest in some types of property projects, but some analysts are skeptical of the benefits
· Caixin Top Stories of the Month: TikTok Walks on Thin Ice Amid Western Security Fears
As the U.S., Canada and the EU torque up pressure and restrictions, ByteDance fights to avoid a government-forced spinoff of its gold mine
· China’s Short-Video App Users Top 1 Billion
The number makes up more than 70% of the total population and 95% of all internet users in the country
· China Chalks Up Fresh Win for Yuan Internationalization With LNG Trade
State-owned China National Offshore Oil completes purchase of more than 60,000 tons of liquefied natural gas from French giant TotalEnergies
· Beijing Reaffirms Taiwan Could Adopt Own Social System After Reunification
The central government would ‘fully respect’ the lifestyle of the island’s people, spokesperson says
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This article was generated by Caixin Automation.
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