China’s benchmark Shanghai Composite Index (000001.SH) gained 1.18% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.64%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.59% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.74%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Yum China Profit Slumps 90% in Fourth Quarter on Covid Disruptions
Operator of KFC and Pizza Hut reports January rebound and sees a stronger 2023 as it plans to add more than 1,100 new outlets
· JD Warehouse-Backed REIT Jumps 11.6% in Shanghai Debut
Real estate investment trust raises $259 million as part of government push to expand funding sources for infrastructure investment
· China Outlines Responsibilities for Developing Hengqin Guangdong-Macao Zone
Guidelines aim to clear up roles of agencies involved in a corner of the massive Greater Bay Area project
· China Slams the Door on ‘1 Yuan Airfares’ Spawned by the Pandemic
In a three-year sea of red ink, state assets administration tells seven government-owned airlines they can’t keep selling tickets for less than 60% of full price
· Huarong Rescue Moves Forward With 6.15 Billion-Yuan Trust Unit Sale
The debt-stricken state-owned asset manager is in the midst of a restructuring that involves offloading some of its subsidiaries to raise money
· PayPal China Unit Gets Ready to Juice Up Its Business
The firm gets the nod from the PBOC to boost its registered capital to 4.52 billion yuan, which will be the largest capital base of any nonbank payment provider in the country
· In Depth: Why Medical Students in China Are Faking Their Way to a Doctor’s License
As physicians-to-be struggle to find the hands-on experience required to take the licensing exam, they are turning to agencies that provide forged qualifications
· WM Motor Dealers Are Turning Out the Lights
A number of sellers of the startup’s electric vehicles have halted operations, with the company blaming supply chain disruptions
· China to Send $6 Million in Emergency Aid to Quake-Hit Turkey
The 7.8 magnitude earthquake struck Monday near the country’s southern border with Syria, killing at least 7,000 people
· Beijing Tells Taipei That Mainland Is Ready to Resume Cross-Strait Flights
The Chinese mainland has contained its Covid outbreak, and Taiwan should stop using the pandemic as an excuse to delay the resumption, official says
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This article was generated by Caixin Automation.
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