China’s benchmark Shanghai Composite Index (000001.SH) gained 0.82% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.57%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.18% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.16%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Factory Activity Unexpectedly Contracts in April
Decline in purchasing managers’ index reflects weak global demand and suggests the recovery is still lopsided with consumption outpacing production
· Hardly Anybody in China Stayed Home for the Holidays
Travel roars back to pre-pandemic levels as hundreds of millions take trains, planes and automobiles to Disneyland, the mountains, big cities and small towns
· In Depth: Why Time Banks Haven’t Caught On in China
Programs that allow people to accumulate credits for helping out seniors now that can be spent for volunteer assistance later face a host of obstacles
· China’s First-Quarter Light-Industry Exports Fall 2.63%
Decline in bellwether for total exports reflects soft European and U.S. demand for consumer goods like footwear, furniture, toys and kitchenware
· China Fortune Land Restructures Debt and Posts Profit
Embattled developer reports restructuring 80% of its $31.7 billion of debt and net earnings for 2022 after two years of liquidity crisis
· Top Chinese Digital Banks Report More Bad Loans but Higher Earnings
Ant-backed MYbank and Tencent-backed WeBank disclose higher nonperforming loan ratios amid the pandemic yet liquidity metrics remain healthy
· Tech Insider: Huawei’s Revenue Stagnates Amid U.S. Sanctions, Chinese Smart Carmakers Target Tesla
Didi trims losses by more than half, Chinese smartphone-makers including Xiaomi stay in global top five despite sales declines
· Mainland Roads Opened to More Cars From Hong Kong
Qualified drivers will be able to apply for temporary vehicle entry permits on June 1, Guangdong officials say
· Opinion: Infertility Isn’t Just About Women
Failing to acknowledge that half of fertility issues are caused by men puts undue pressure on women and neglects male health, writes economist Qian Liu
· Special Report: China’s AI Charge
Big changes are on the horizon for Chinese companies in the country’s rush to develop its AI industry and keep pace with global peers
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This article was generated by Caixin Automation.
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