China’s benchmark Shanghai Composite Index (000001.SH) lost 0.41% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.51%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.08% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.83%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· NFRA Seeks to Accelerate New Energy Vehicle Sales by Cutting Loan Down Payments
Financial institutions are also being told to back tech start up so economic recovery can change gear
· China’s Zhenhua Denies Modems Installed in its Cranes Pose a Security Threat to U.S. Ports
Congressional committee alleges cellular modems in Chinese cranes to monitor performance could be a cybersecurity risk
· Foshan Allows Developers to Sell New Homes Before Repaying Loans
Without such a move developers’ capital chains can be strangled by an inability to pay, stalling sales and making things worse
· Li Auto Takes Legal Action After Doctored Photos Mock Its Debut EV
The altered images showed the automaker’s new luxury model sporting a label in Chinese that translates as ‘New-energy funeral vehicle’
· China’s Private Quant, Bond Funds Outperform Peers as Stock Market Falters
As the Chinese market was slumping for its third-straight year in 2023, these alternatives were bright spots
· Apple to Open New Shanghai Store as China iPhone Sales Slump
The new retail space is located in the center of the city that already hosts the largest number of the U.S. tech giant’s stores on the Chinese mainland
· China Pushes Banks, Alipay and WeChat Pay to Be More Foreigner-Friendly
The government urges boosting accessibility of mobile payments, as well as acceptance of cash and foreign bank cards
· Hong Kong Market Regulator Proposes China Lower Threshold for Stock Connect
Lowering the bar from the current 500,000 yuan to 100,000 yuan will provide more opportunity for mainland investors and raise Hong Kong’s market liquidity, SFC Chairman Tim Lui says
· Editorial: Bolstering and Enhancing the Upward Trend in China’s Economic Recovery
This year’s Government Work Report details the challenges facing decision-makers, showing their clear understanding of both the domestic and international situations
· Cover Story: Survival of the Fittest — China’s Captive-Bred Pandas Get New Life in the Wild
Since 2003, 10 of the 12 captive-bred pandas released in Sichuan after ‘wild training’ have survived in their natural habitat, indicative of both the successes achieved and challenges facing efforts to repopulate the environment with China’s national treasure
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This article was generated by Caixin Automation.
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