China’s benchmark Shanghai Composite Index (000001.SH) lost 0.17% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.63%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.82% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.42%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Exclusive: IBM Chief Says Closing China Units Is ‘Done’ and ‘Not Reversible’
IBM to focus on strategic sites in the U.S. and India after pulling out of China
· Boost for Lithium Mining Stock as CATL Halts Yichun Production After Price Plunge
Steep fall in lithium price forces CATL to stop production at its giant concentrator
· PwC Reportedly Flying In U.K. Senior Partner to Lead Embattled China Affiliate
The accounting firm is likely to face heavy penalties for its auditing work for a major subsidiary of fallen real estate giant Evergrande
· Dozens Banned From Chinese Soccer in Wake of Gambling, Graft Crackdown
The authorities uncovered 120 fixed matches, 12 online gambling rings
· Analysis: Huawei’s $2,800 Foldable Phone Raises Bar in China’s Handset Market
The Mate XT folds out to 10.2 inches, around the same size as the Apple iPad Air
· Fiscal Spending And Monetary Easing Key to Stabilizing China’s Economy, Says Expert
Ultimate aim of adjusting monetary policy is economic stability in the short term, says leading economist
· Freight Rates Plummet as China’s Export Growth Slows and U.S. Inventory Replenished
Early shipments for the Christmas retail season could mean a drop in demand for containers from September
· China Loosens Restrictions on Foreign Investment in Hospitals
A new pilot program will allow wholly foreign-owned medical institutions in eight cities plus Hainan province, the first such trial in a decade
· Delivery Rider’s Death Shines Light on Fierce Competition in China’s Gig Industry
China’s sluggish job market is squeezing delivery riders who are facing ever-longer working hours and growing competition, several drivers tell Caixin
· China Renaissance Shares Plunge as Trading Resumes, Founder Still Missing
The Hong Kong-listed company says it paid around $11 million in ‘restricted amounts’ to an unnamed recipient in connection with Bao, who was detained by Chinese authorities last year to assist with an investigation
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This article was generated by Caixin Automation.
