China’s benchmark Shanghai Composite Index (000001.SH) lost 0.27% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.82%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.88% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.76%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Banks Approve $196 Billion in Loans to Support New Home Delivery
Some 5,000 property projects have qualified for financial support program
· Former Vice President of China Merchants Bank Falls Under Probe
Ding Wei, 67, is suspected of severe violations of law and discipline by anti-corruption watchdog
· Nio Aims to Build Charging Station in Every Chinese County by Mid-2025
Nio signs deals with six companies to charge up ambitions for battery service network
· Analysis: Tencent-Backed Black Myth: Wukong Gives China’s Gaming Industry a Shot in the Arm
Despite its chart-topping debut, long-term profitability remains uncertain for developer Game Science
· China Pacific Insurance President to Also Chair Life Insurance Unit
Zhao Yonggang will replace the retiring chairperson, while the subsidiary’s general manager will become its Communist Party committee chief, sources say
· China’s Languishing IPO Market Strains Startup-Investor Relations
PE and VC funds are instead resorting to pre-listing agreements with refund clauses, which in many cases lead to litigation
· China’s Stricter Rules, Sluggish Market Lead to Surge in Delisting
From January to July, over 40 companies on the Shanghai or Shenzhen stock exchanges were delisted or slated to be so, nearly as many as in all of 2023
· PwC Loses Largest China Client in Wake of China Evergrande Storm
Bank of China switches to EY as growing list of Chinese companies sever ties with PwC
· Huawei’s Smart Car Unit Valued $16 Billion After Investment From Avatr
Avatr buys in to Yinwang to utilize its smart car technologies and talent
· Analysis: Can China Serve as a Safe Haven Amid Global Stock Turmoil?
To achieve that status, the potential of the domestic market must be fully unleashed
Click here to read more of the latest news.
This article was generated by Caixin Automation.
