China’s benchmark Shanghai Composite Index (000001.SH) lost 0.21% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.6%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.45% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.95%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: Will China’s Latest Policy Call-to-Arms Turn the Ailing Property Market Around?
The government hopes to end the slump by studying policies to reduce the record vacant housing overhang, earning cheers from foreign investors and buoying share markets
· China Imposes Rules on Elderly Care Facilities to Prevent Fraud and Mismanagement
Down payments limited to 12 times the monthly fee as regulations tightened on care homes for elderly
· U.S. Adds More Chinese Firms to Blacklist Over Balloon Incident, Quantum Tech
Eight companies were added to the ‘Entity List’ due to their alleged support of a Chinese high altitude balloon that flew over the U.S. in February 2023
· Accounting Firms in China Required to Store Audit Data on Mainland Under New Rules
Accounting firms in China will have to obtain approval first if they want to export audit working papers, new measures released Friday say
· Weekend Long Read: Centennial Sojourn of Scholar Chi Pang-yuan
Known best for ‘The Great Flowing River,’ about her life from Northeast China to Taiwan, the writer’s work is celebrated on both sides of the Strait
· China, Hungary Elevate Ties to ‘All Weather’ Partnership
During President Xi Jinping’s state visit, the two sides agreed to strengthen high-level exchanges and deepen cooperation on clean energy and AI
· China Tea Brand Shares Drop on Suspicions About Viral Marketing Ploy
The drop came after Xiangpiaopiao’s popularity soared as photos of people holding its products in Japanese stores with slogans slamming Tokyo’s discharge of nuclear waste water stirred nationalistic sentiment and boosted sales
· Mastercard Starts Processing Yuan-Denominated Card Payments
U.S. giant’s local joint venture becomes the second such foreign player in China’s market
· Baidu Executive That Bragged of Pitiless Management Style Leaves After Backlash
In videos she shared online, PR chief Qu Jing said she had no responsibility for her subordinates’ welfare outside of work and threatened to ruin the careers of those who complained
· Chinese Fugitive Behind Massive Bitcoin Money Laundering Arrested in U.K.
Qian Zhimin, the alleged mastermind behind a multibillion-dollar fundraising fraud in China, was picked up after years on the run, sources say
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This article was generated by Caixin Automation.
