China’s benchmark Shanghai Composite Index (000001.SH) gained 0.65% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.62%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.33% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.5%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Zhongwang, Top IPO of 2009, Kicked of Hong Kong Exchange
Aluminum giant controlled by Liu Zhongtian, once China’s richest man, didn’t report financial results since 2021 amid liquidity crunch
· SenseTime to Roll Out Its Own ChatGPT Rival in Mid-2023
Chinese AI leader joins the global rush for chatbots sparked by the OpenAI product, along with China’s Baidu
· Huolala Parent Lalatech Files for Hong Kong IPO
Operator of China’s largest platform connecting intra-city cargo delivery services with users once sought to raise $1 billion in a since-scuttled U.S. share sale
· Exclusive: Rival Bid Shapes Up for Steel Asset Being Sold by Debt-Strapped Fosun
A unit of financial conglomerate Citic is fast-tracking a potential bid to buy 60% of Nanjing Nangang Iron & Steel, sources tell Caixin
· In Depth: New Business Comes With Old Risks for China’s Struggling Tutoring Industry
Sales of ‘learning tablets’ helped keep companies going after the crackdown on for-profit education, but looming regulation and growing competition show the shift is no cure-all
· Succession Battle Erupts After Sudden Death of Battery-Materials Maker Founder
Ningbo Shanshan Chairman Zheng Yonggang’s death in February has left his wife and son from a previous marriage fighting for control of the company
· Allianz Seeks Bigger Foothold in China’s $3.9 Trillion Mutual Fund Market
The German financial giant has applied with the CSRC to set up a wholly owned fund manager
· China’s Private Sector Set for Boost as Local Governments Step Up Support
Guangzhou in southern China is just one city preparing local legislation to give private companies equal rights and market access with their state-owned counterparts
· Bond Market Tumult Ravages Two Chinese Financial Majors’ Hong Kong Units
Bocom International and Guotai Junan International both report taking hits to their bottom lines for 2022
· Crypto Mining Platform Bitdeer Moves Step Closer to Nasdaq SPAC Listing
The deal, already delayed three times, would give the company an implied equity value of around $1.18 billion
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This article was generated by Caixin Automation.
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