China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.96%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.7% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.44%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China Charts Course for Future Growth with Major Reforms at Key Meeting
The Communist Party of China Central Committee’s Third Plenum highlighted the importance of the rule of law, financial independence for local governments and creating a new model for the beleaguered real estate industry
· Former Credit Suisse Exec Appointed HSBC China’s Head of Global Banking, Document Shows
Tang Zhenyi will lead an onshore product team and assist global clients to enter the Chinese market, Caixin has learned
· Weekend Long Read: How Investors Should Respond to China’s Third Plenum
This year’s key economic policy-setting meeting follows the path laid out in the plenary session from 10 years ago, though it produced a plan with more details and specific goals
· China Tweaks Regulations to Ease the Way for Qualified Foreign Investors
Streamlined rules to simply procedures for overseas investors aim to boost domestic capital market
· China’s Top Securities Official Promises Stable Policies for Foreign Investors
Wu Qing asks market participants for ideas on improving legal framework to boost foreign investors’ confidence
· Analysis: What Third Plenum Means for Banks, Stock Market
Party sends signals on financial reforms that aim to improve the allocation of credit through bank lending and the stock market to serve the real economy
· China’s Solar Sector Must Consolidate Amid Mounting Losses, Industry Group Warns
The opening bid price for panels has fallen below the 1 yuan per watt cost level to about 0.8 yuan in July as overcapacity engulfs the industry
· Hong Kong Reappoints Chief of De Facto Central Bank
Eddie Yue will remain at the helm of the HKMA for another five years, helping steer the financial system through global economic uncertainties
· Foxconn to Build New China Headquarters in Effort to Cut Reliance on IPhone
A unit of the contract manufacturer has signed a deal with the Henan government to invest 1 billion yuan to build the facility in the provincial capital Zhengzhou
· China’s Wind, Solar Power Capacity Tops Coal for First Time
Wind and solar farms account for 38.4% of China’s total power capacity, surpassing coal power’s 38.1%, according to a new report
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This article was generated by Caixin Automation.
