China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.06%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.58% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.2%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· In Depth: Why Should Beijing Reinstate Subsidies for Auto Sales?
Complex market dynamics could make state intervention less effective as the industry’s increasingly vicious price war fails to spur demand
· Former China Everbright Chairman Probed as Financial Crackdown Intensifies
Li Xiaopeng stepped down a year ago, but rumors have swirled about alleged favoritism and as some people linked to him have been investigated for corruption
· Exclusive: Shagang Still Wants to Buy Nangang Iron & Steel From Fosun
Even after Citic swooped in to help Nanjing Steel preempt its deal, Shagang urges Fosun to honor its $1.97 billion sale agreement
· Blog: Zhang Jike Case Highlights Cracks in China’s Privacy Law
Privacy protection, loan contract validity and private lending rates are three key legal questions that need answering after a table tennis superstar got caught up in an extortion scandal
· China’s Spring Canton Fair Resumes In-Person Expo
Tens of thousands of buyers from 203 countries sign up for resumption of Guangzhou trading event after three years of pandemic restrictions
· Meituan Co-Founder Scouts Talent for ChatGPT-Like Venture
Wang Huiwen is recruiting for his startup in areas including modeling, algorithms and application as he strives to rival U.S. firm OpenAI
· Tech Insider: Huawei Smart Car Blues, China’s Micron Probe
Tesla and BYD still have room to cut car prices further in China, Beijing urges Japan to cut support of U.S. chip curbs
· Meituan’s Billionaire Co-Founder Trims Li Auto Stake in $53 Million Sale
Wang Xing offloaded about $53.3 million worth of shares in the Chinese EV-maker last month, but remains its biggest external shareholder
· Trending in China: Table Tennis Superstar Gets Caught Up in Extortion Scandal
Fans are furious and sponsors running for cover in the wake of accusations that Zhang Jike exchanged some very personal videos of his famous ex-girlfriend for paying off a gambling debt
· In Depth: How China’s Export Surge Left the Shipping Industry With a Hangover
Falling freight rates are a sign of overcapacity in the sector, just as a host of new vessels ordered during boom times are about to be delivered
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This article was generated by Caixin Automation.
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