China’s benchmark Shanghai Composite Index (000001.SH) gained 2.31% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 2.4%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.97% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.78%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China’s Share Markets Back on the Fundraising Menu for Ailing Developers (Part 2)
Ban on equity fundraising to be lifted immediately, allowing property firms to sell domestic shares for debt repayments and acquisitions
· Former State-owned Assets Administration Chief Named Party Leader of Liaoning
Hao Peng, 62, becomes the third straight Communist Party secretary of the province with a background in military enterprises
· China’s President Xi Jinping Meets With Mongolian President
Leaders sign series of bilateral accords while vowing to expand cooperation on trade, energy and connectivity
· Opinion: China’s Lagging Tax Receipts a Worry, but 2023 Looks More Promising
The fiscal situation is expected to stay in a ‘tight balance’ due to a potential short-term rebound in land sales and as the impact of VAT refunds on government revenue fades
· Covid Lockdowns Set to Snap China’s Car Sales Winning Streak
Deliveries to auto dealerships fell 8% in the first 20 days of November with disruptions to logistics networks also weighing
· Guangzhou Spares Home-Bound From Mass Covid Testing
The new rule applies to the elderly, students taking classes online, and people working remotely
· Cold Snap in Northwest China Leaves Livestock Trapped and Herdsmen Missing
Pandemic restrictions likely added to difficulties for herdsmen, Caixin has learned
· Northwest Region Appoints Youngest Provincial Leader in China
Shaanxi’s governor Zhao Yide has been chosen as the province’s new party secretary
· Cover Story: China Lines Up Yet More Aid for the Property Sector, But Will It Be Enough? (Part 1）
New round of policy measures to support beleaguered developers is imminent, as Beijing seeks to check a protracted downturn, Caixin has learned
· China’s Covid Cases Hit Record For Third Straight Day as Lockdown Fatigue Grows
Deadly residential fire in Xinjiang has raised questions about whether tough pandemic restrictions may have contributed to the fatalities
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This article was generated by Caixin Automation.
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