China’s benchmark Shanghai Composite Index (000001.SH) lost 0.11% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.13%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.28% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.23%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China M&A Deals Plunged 34% to Nine-Year Low in 2022
Economic headwinds and pandemic disruptions similarly slowed global mergers and acquisitions, management consultant Bain reports
· More Than 50 Trapped in Northern China Mine Collapse
Disaster kills two and injures six at privately owned Inner Mongolia coal operation with a record of safety and other violations
· Huawei to Expand Smart Selection System for Deals With Automakers
Following failure of ‘Huawei Inside’ plan, Chinese tech giant doubles down on alternative approach to selling smart car systems to collaborators
· Hong Kong Relaunches Investment-for-Residency Program
City hopes to lure back bankers, lawyers and other professionals who decamped amid pandemic restrictions, though new program’s details are sparse
· More Chinese Families Planning to Buy a Home, Survey Shows
In the fourth quarter 16.6% of respondents to the Alipay user poll said they intended to buy in the next three months, up from 8.1% a year earlier
· China Plans Deeper Reforms to Modernize Key Areas of Government and Party
A draft plan to get institutions to adopt a science-based approach and improve efficiency at all levels of government will be reviewed during a plenum next week
· China’s No. 3 EV-Battery Maker Vows to Appeal CATL Patent Case
A local court had ordered CALB to stop selling products that violate its larger rival’s IP and pay the plaintiff $5.2 million in damages
· South Korea Will End Testing for Travelers From China
The decision comes as the positive Covid rate for arrivals from China fell to less than 1% this week from more than 18% at the beginning of January
· Exclusive: The Bidding War for Fosun’s Nangang May Heat Back Up
While steelmaker Shagang already paid almost half the $2.21 billion deal price, Citic Pacific and Fangda Steel are still lurking in the wings to snap up the Fosun crown jewel
· Meituan Gears Up for Hong Kong Expansion With Rider Recruitment
Mainland food delivery giant moves to challenge foodpanda and Deliveroo in a market where Uber Eat’s five-year effort failed
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This article was generated by Caixin Automation.
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