China’s benchmark Shanghai Composite Index (000001.SH) lost 0.4% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.07%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.69% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.26%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· KPMG Cuts Hong Kong IPO Forecast by 40% Blaming Fed Rate Cuts Delay
Accounting firms now expect the Hong Kong bourse to see only 80 new listings this year raising about $768 million
· Didi Quashes Hong Kong IPO Rumors and Focuses on Core Operations
Ride-hailing giant says it has no timetable for a listing in 2025 but is keeping investors up to date with business progress
· CATL’s Productivity Campaign Draws Criticism Over Grueling Work Hours
EV battery titan has launched a 100-day campaign to boost productivity, leading to some employees having to work from 8 a.m. to 9 p.m., six days a week, source says
· In Depth: Alipay and WeChat Pay’s Smaller Peers Struggle Amid New Crackdown
Institutions are scrambling to find new ways of making money after regulators’ ban on code stacking cut off a lucrative source of income
· Chinese Premier Hails Warming Ties During Australia Trip
Beijing is ready to work with Canberra to ‘build a more mature, stable and fruitful comprehensive strategic partnership,’ Li Qiang says
· China Auto Roundup: Tesla to Road Test Full Self-Driving, Huawei to Roll Out Two New EVs
German chamber in China says EU tariffs won’t protect automakers, Evergrande auto unit ordered to repay $262 million of state subsidies
· Higher Wages, Fewer Jobs: The Changing Face of China’s Manufacturing Sector
New employment trends indicate weaker recruitment and more jobs in the gig economy, according to manufacturing indices
· The World Still Loves Panda Bonds as Appetite for Renminbi Increases
Renminbi internationalization remains robust with $558 billion-worth held abroad in bonds
· Xizang’s Former Communist Party Chief Caught in Graft Dragnet
Wu Yingjie, who currently heads up a committee of China’s top political consultative body, is the first former head of the region to be investigated for corruption in recent decades
· Chinese Solar Panel Bosses Warn of Interim Overcapacity
Oversupply has caused prices to collapse in every step of the supply chain, and manufacturers profits have plummeted, industry leaders tell conference
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This article was generated by Caixin Automation.
