China’s benchmark Shanghai Composite Index (000001.SH) lost 0.15% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.13%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.5% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.71%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Henan City Buys 1,050 Evergrande Flats for Affordable Housing
Purchase by city of Kaifeng aims to expand local subsidized housing supply while bolstering the ailing property market
· China’s 2022 Tax Rebates Almost Double the Past Three Years Combined
Refunds of value-added taxes top $325 billion so far this year as government tries to buck up the slowing economy
· Exclusive: Upstart SPS Shipyard Lands $580 Million Order for 14 Ships
Founder Luan Xiaoming plans to revive shipyard abandoned by bankrupt Rongsheng Heavy Industries, where he was a top executive
· Indonesia IT Minister Plays Up Opportunities in Country’s Digital Transformation
Fewer than one-third of the Southeast Asian nation’s micro, small, and midsize enterprises have undergone digitization
· China Eases Some Restrictions on Travel Agencies’ Cross-Province Services
The tourism ministry abolished the ‘circuit breaker’ system that barred cross-region tours to a destination where any county or district had areas designated ‘middle-risk’ or ‘high-risk’ for Covid
· Discounted Booze Pits JD.com Against One of China’s Largest Liquor-Makers
Sichuan-based Luzhou Laojiao accused the e-commerce heavyweight of undermining its pricing power for selling one of its top-shelf brands at a discount
The Chinese carmaker says it had to postpone the planned listing because of how an investment in the subsidiary will affect its balance sheet
· Xi Calls for Improved China-Australia Relations at G-20
The relationship between the countries soured in recent years following disputes over trade and the Covid-19 pandemic
· Embattled Online Grocery Missfresh Faces Debt Claims in 1,400 Lawsuits
Former employers and suppliers demand $115 million, and the company has only 55 employees left, according to belated 2021 annual report
· Country Garden Plans $494 Million Share Placement
Chinese property giant takes advantage of stock rally to sell Hong Kong shares for repayment of offshore debts
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This article was generated by Caixin Automation.
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