China’s benchmark Shanghai Composite Index (000001.SH) gained 0.65% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 1.23%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.39% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.62%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· North Korea Reports ‘Fever Cases’ in Almost 5% of Population
Without calling cases ‘Covid,’ isolated country says there were 392,920 new infections and eight deaths in 24 hours ended Sunday
· Global Climate Collaboration Needed More Than Ever, Davos Leader says
Gim Huay Neo, chief of World Economic Forum’s climate initiative, says pandemic and war underscore the need to work together
· China’s Developers Slash Investment for First Time Since 2020
January–April new-project spending falls 2.7% as real estate companies put the brakes on land acquisition and new construction amid a shaky economic outlook
· Parcel Deliveries Continue Dropping as Virus Restrictions Persist
Shanghai’s 90% plunge leads China slump as nationwide more than 1 billion fewer packages were distributed in April than in March
· Wait Time for Public Rental Housing in Hong Kong Hits 23-Year High
The lengthening wait time adds to the pressure on the city’s next chief executive, who has promised to get low-income families into public housing quicker
· Two Carriers to Resume Domestics Flights Out of Shanghai This Week
Juneyao and Spring Airlines will restart passenger services to the cities of Kunming and Longyan
· Update: Shanghai Lays Out Plan to End Lockdown and Reopen Business by June
The city will embark on a three-phase plan this week that will gradually lift restrictions that have kept residents under strict lockdown for nearly two months
· Cover Story: China’s Race to Provide for Its Aging Population
As government pension funds run dry and employer benefits fall short, policymakers put renewed emphasis on personal retirement funds
· China Pulls Out of Hosting 2023 Asian Cup Due to Covid
Shock announcement comes after Beijing postponed the 2022 Asian Games as lockdowns continue to restrict the movements of hundreds of millions of people across the country
· Chinese Property Developer Logan Seeks to Extend Maturity of Offshore Bonds, Sources Say
Request gives credence to predictions that the real estate sector’s debt crisis is far from over amid sluggish housing sales and a subdued recovery in financing
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This article was generated by Caixin Automation.
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