China’s benchmark Shanghai Composite Index (000001.SH) lost 0.41% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 1.37%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.18% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.33%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· There Is Room for Easing Bank Reserve Ratio, PBOC Governor Says
A weakening dollar will allow China to loosen its monetary policy without causing more capital flight, says Pan Gongsheng
· Political Adviser Calls For Policies That Nurture Tech Unicorns, Not Harm Them
China must give tech startups room to grow by ending the subtle discrimination against private companies, says adviser
· JD.com’s Logistics Unit Dada Discloses Financial Fraud, President to Resign
Fraudulent transactions resulted in revenue being overstated by $79 million so the company could hit its targets
· CSRC Chairman Vows to Strictly Hold IPO Threshold
Top securities regulator promises to make every effort to block fraudulent companies from the capital market
· In Depth: China’s ‘Land Commissioner’ Proposes Reforms to the Land System to Aid Development
Economics professor suggests expanding urban access to rural collective land and removing restrictions on cross-provincial land quota transfers
· Talent Cultivation in Remote Areas ‘Crucial’ to China’s Long-Term Growth
A deputy director of the country’s top advisory body emphasized fiscal support for underdeveloped areas and underprivileged groups
· China to ‘Consolidate, Enhance’ Global Dominance in Smart Cars, Premier Says
In his maiden government work report to the NPC, Li Qiang cited the rising popularity of Chinese-made NEVs, which accounted for 60% of global electric vehicle output and sales in 2023
· Q&A: Legal Actions are Needed to Safeguard Private Economy
Legal expert makes the case for a Private Economy Protection Law to ensure the rights of entrepreneurs and remove contradictions that hinder economic growth
· Faraday Future Sues Former Executive Over Alleged Trade Secret Infringement
California EV startup founded by disgraced tech founder Jia Yueting is seeking monetary damage over infringements related to its sole model, the FF91 SUV
· Belle Fashion Refiles for Hong Kong IPO After Turning Business Around
China’s biggest fashion footwear company gets ready to return to the stock market after posting its highest net profit margin in nearly three years
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This article was generated by Caixin Automation.
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