China’s benchmark Shanghai Composite Index (000001.SH) gained 0.74% on Monday, while the Shenzhen Component Index (399001.SZ) rose 2.27%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.9% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 4.6%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: Survival of the Fittest - China’s Captive-Bred Pandas Get New Life in the Wild
Since 2003, 10 of the 12 captive-bred pandas released in Sichuan after ‘wild training’ have survived in their natural habitat, indicative of both the successes achieved and challenges facing efforts to repopulate the environment with China’s national treasure
· Exclusive: China Expands Support to Resolve Off-the-Books Liabilities For Local Governments
Multiple sources tell Caixin the government is expanding measures aimed at curbing risks in local governments’ hidden debts to cover all provincial-level regions on the mainland
· Chinese New Energy Carmakers Should Look to Overseas Markets Amid Price War, Analyst Says
Mi Siyi, an electric vehicle analyst at BloombergNEF, says a renewed price war at home is testing efforts to control costs amid the waning effectiveness of price cuts to boost sales
· Weekend Long Read: No One Can Stop China’s Growth Recovery — Except China
Beijing has the means at its disposal to keep the economy growing by 5%-6% for years to come, as long as it acts fast and implements the right policies, the FT’s Martin Wolf says
· CNOOC Discovers Mega Deepwater Reserve in South China Sea
A vast 100-million-ton oil and gas field identified 300 miles off the coast of Guangdong province in the South China Sea
· Red Sea Crisis Squeezes Chinese Exporters as Shipping Costs Rise, Fitch Says
Rerouting via the Cape of Good Hope is having the greatest impact on China’s exports of cars and solar modules, according to Fitch Ratings
· In Depth: Chinese Property Giant Vanke Seeks More Time to Repay Debts as Market Slump Lingers
State-backed developer is trying to renegotiate maturities on debts to insurance sector companies so it can repay billions of yuan of publicly traded bonds this year
· China on Cusp of Passing Revisions to State Council Organic Law
The amendment calls on the country’s cabinet to improve the oversight system by ramping up efforts such as reviewing laws and supervising enforcement officials
· Dubai Free Trade Zone Attracts 25% More Chinese Companies
Dubai Multi Commodities Centre hosted 852 Chinese companies at the end of 2023, lured by policies designed to attract foreign investment
· China’s Top Legislature Set to Create Law to Bolster Private Economy
The work report submitted by the National People’s Congress Standing Committee for this year also includes legislation for value-added tax, preschool education and social assistance
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This article was generated by Caixin Automation.
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