China’s benchmark Shanghai Composite Index (000001.SH) gained 0.39% on Friday, while the Shenzhen Component Index (399001.SZ) rose 1.12%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.96% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.94%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: Chinese Pharma Turns to Global Deals to Global Deals to Cure Capital Crunch
Sales of drug rights and M&A transactions help offset investment slump
· China Should Stop Housing Presale to Reduce Risks, Lawmaker Says
The presale system exposes homebuyers to considerable risk and, since the developers’ capital crisis of 2021, many were left making mortgage payments on housing they can’t occupy
· Politburo Highlights Growth, Reform in Government Work Plan
Leadership pledges to meet social and economic targets for the year by focusing on expanding domestic demand, deepening reforms and mitigating risk
· ‘Boundless Greed’ Leads to Former Shanxi Deputy Party Head’s Expulsion
CCDI investigation into Shang Liguang found he traded power for money and sex and now faces criminal charges
· Global Oil and Gas Consolidation Offers Chinese Firms Opportunities for Deals, Report Says
Chinese buyers may optimize overseas assets as mega deal companies divest themselves of oil and gas fields as part of their consolidation
· XPeng, Volkswagen Plan to Launch Two Mid-Size EVs in 2026
The first model will be an SUV, and the automakers will launch a joint sourcing program to reduce component costs
· Chinese Quant Firm Suspended From Futures Trading for Flouting Exchange Rules
Chinese Quant Firm Suspended From Futures Trading for Flouting Exchange Rules
· Wind and Solar Power Traded on China’s Electricity Market Doubles in Two Years
Nearly half of the power traded in 2023 came from the two sources, with growth driven by the exponential expansion of renewable energy
· Amended Law to Require China’s Charities to Report Fundraising Costs
The unprecedented update to the Charity Law is aimed at keeping costs to a minimum for public welfare organizations
· In Depth: China’s Efforts to Unlock the Value of Data as an Asset
As companies and policymakers move to better leverage the value of information, key issues such as how to recognize and price it still need clarification
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This article was generated by Caixin Automation.
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