China’s benchmark Shanghai Composite Index (000001.SH) lost 0.3% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.59%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.19% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.96%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: Seven Things to Know About China’s Latest IPO System Overhaul
After testing the registration-based mechanism in China’s three smaller markets, regulators are now planning to roll it out to the two main boards
· Chinese Cities Offer Covid Antibody Tests as Outbreak Wanes
In central China’s Hunan province, $5 test offers to evaluate people’s antibody levels and risk of reinfection, authorities say
· Huawei Suspends Auto Business Chief Wang Jun
Disappointing progress for ‘Huawei Inside’ smart car business model is behind suspension as tech giant pushes for profitability, source close to company tells Caixin
· China Offers More Flexible Visas for Professionals in the Greater Bay Area
Under new system starting Feb. 20, those who qualify can stay four times as long on multiple visits to Hong Kong and Macao
· Developer Times China Halts Bond Trading Amid Debt Restructuring Talks
Guangzhou-based firm is in talks with creditors to extend repayment amid a deepening cash crunch and a slump in sales
· In Depth: China’s Slumping Office Rental Market Faces a Steep Climb in 2023
Lingering concerns about demand and a rush of new supply hitting the market uncut hopes for a quick recovery this year
· Blinken’s Planned Visit to Beijing Was ‘Ill-Timed’ Given U.S. Actions Against China, Diplomat Says
China’s Ambassador to France says U.S. measures like trade sanctions had soured relations before the balloon incident
· Yum China Profit Slumps 90% in Fourth Quarter on Covid Disruptions
Operator of KFC and Pizza Hut reports January rebound and sees a stronger 2023 as it plans to add more than 1,100 new outlets
· JD Warehouse-Backed REIT Jumps 11.6% in Shanghai Debut
Real estate investment trust raises $259 million as part of government push to expand funding sources for infrastructure investment
· China Outlines Responsibilities for Developing Hengqin Guangdong-Macao Zone
Guidelines aim to clear up roles of agencies involved in a corner of the massive Greater Bay Area project
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This article was generated by Caixin Automation.
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