China’s benchmark Shanghai Composite Index (000001.SH) lost 0.26% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.86%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.61% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.9%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Sets New Risk Rating System for Foreign Bank Operations
Upgraded rules for assessing risk management and capital requirements take immediate effect, regulator says
· Over 20 Chinese Developers Plan Share Sales as Ban Ends
Seven companies including Risesun Real Estate Development publish preliminary offer details
· China Scraps Covid Curbs on Ports, Foreign Ship Crews
Restrictions will end Jan. 8 as country abandons its `zero-covid’ strategy
· Beijing Doles Out Pfizer’s Paxlovid to Community Centers to Take Pressure Off Hospitals
The anti-viral drug that prevents severe illness from Covid is being distributed through grassroots medical institutions to steer patients away from overstretched facilities
· Tech Insider: Nio Responds to Supply Concerns, Tesla Suspends Shanghai Production
Logistics firm ZTO files for dual primary listing in Hong Kong, Huawei extends patent deal with Nokia
· China’s EV Brands Winning Favor With Local Drivers at Expense of Foreign Competitors
Trend could put homegrown EVs in pole position in China’s high-end auto market in the next three to five years, according to a McKinsey survey
· Flight Booking Sites Swamped With End of Travel Restrictions on the Horizon
Searches for overseas tickets jumped tenfold on Trip.com after announcement that quarantine and PCR test requirements will be dropped for inbound flights from Jan. 8
· Southern Chinese City Abolishes Homebuying Limits to Boost Demand
Dongguan in Guangdong province has scrapped restrictions on who can purchase properties and how many they can buy
· Oil Rises as China Loosens Travel Rules, U.S. Battles Winter Freeze
Benchmark U.S. crude traded near $80 a barrel after Beijing scrapped quarantine for inbound travelers from early January
· Almost Famous: How China’s Extras Are Chasing Viral Video Fame
Treated as disposable by the film industry, the day laborers of the movie business are seeking dreams of stardom on streaming platforms like Bilibili
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This article was generated by Caixin Automation.
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