China’s benchmark Shanghai Composite Index (000001.SH) gained 0.59% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.31%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.39% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.95%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Resources Pays $1.6 Billion for Control of Chip Packaging Giant
China’s state-backed Big Fund sells most of its stake in JCET Group
· TikTok’s High Stakes Battle Against U.S. Ban Threatens Worldwide Expansion
TikTok fears exclusion from Canada and U.K. markets if U.S. ban proceeds
· Citic Securities Downsizes IPO Team as Business Slows
After years of rapid growth, the investment banking division of China's largest brokerage house
· Beijing Scraps Homebuying Curbs on Divorcees in Further Easing Move
City makes a further move to ease restrictions on home purchases in a bid to boost the real estate market
· In Depth: China IPO Slowdown Pits Startups Against Investors
As companies miss listing deadlines, they are increasingly becoming mired in disputes with their early-stage investors who want their money back
· Saudi Aramco Eyes Cooperation With China Beyond Just Oil
Chemicals, green materials, energy transition, and digital innovation are potential areas for future investment, said Amin Nasser, president and CEO of the Saudi oil giant
· Automaker’s Solid-State Battery Claim Hits Wall of Skepticism
Industry experts take issue with assertion from IM Motors’s CEO that its L6 sedan will have a fast-charging battery capable to traveling 1,000 kilometers on a single charge
· Mercedes-Benz CEO Reaffirms Commitment to Going Electric
German automaker is making adjustments to its factories, with the goal of offering customers a line-up of fully electric and hybrid models by 2030
· Chinese Hospital Association Removes Missing Vice President
Fang Laiying, a retired senior health official from Beijing, was booted by the CHA after nearly 10 months out of the public eye
· Smaller Chinese Banks Trim Deposit Rates to Protect Profit Margins
One Guangdong province-based bank lowers rate on five-year time deposits to 2.5% from 2.7% as expectations grow for a continued decline in loan rates
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This article was generated by Caixin Automation.
