China’s benchmark Shanghai Composite Index (000001.SH) lost 0.2% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.41%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.97% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.32%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Half of China’s Provinces Fall Behind the National Economy
Of 28 jurisdictions reporting first six-months GDP, 15 miss the national average of 5.5% growth, largely reflecting the real estate slump and slack manufacturing demand
· Graft Busters Probe Senior Guizhou Rural Banking Official
Ma Linbo, Communist Party chief and chairman of a rural credit union, is caught up in sweeping anti-corruption crackdown
· Troubled Bank of Qinghai Gets a New Top Shareholder
Provincial finance bureau takes over 19.71% stake from the province’s state-owned assets investment manager
· Probe Clears Local Government Accused of Crippling China EV Startup
Investigators say Changle county followed the rules when it discontinued a loan guarantee for the automaker, a decision that the company’s founder said led it to suspend production
· Head of China’s First Intellectual Property Court Expelled From Party
Su Chi, the ex-party chief of the Beijing court, was involved in improper sexual behavior and broke the law as a law enforcement officer, local graft busters say
· Chinese Battery Material Supplier Expands in South Korea
Ningbo Ronbay New Energy wins clearance to more than triple its South Korean production capacity
· Toyota’s China Venture Slashes 1,000 Jobs Amid Slowing Sales
GAC Toyota’s production declines as all-electric bZ4X model fizzles after November launch
· China’s Central Bank Issues Draft Rules on Data Security Management
PBOC guidelines aim to fill gaps in data security and steer data handlers to comply with terms of China’s Data Security Law
· China Issues Draft Rules to Fuel Cross-Border Trade and Investment
Foreign exchange regulator proposes expanding trial of cross-border financing program and altering limits on certain fund transfers
· Pan Gongsheng Named as China’s New Central Bank Governor
Pan, a deputy governor and Communist Party committee chief of the PBOC, replaces Yi Gang
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