China’s benchmark Shanghai Composite Index (000001.SH) lost 0.43% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 1.24%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.71% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.8%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· New China Life Sets up $1.4 Billion Fund for Property Investments
Leading insurance company joins with CICC to seek long-term investments in companies with real estate assets
· Saudi Aramco and China’s Rongsheng Plan Closer Tie-up
World’s biggest oil producer and Chinese petrochemical giant to buy mutual stakes as they expand supply partnership
· China’s Largest Milk Tea Seller Mixue Applies for Hong Kong IPO
Profitable consumer chain turns to Hong Kong after Chinese authorities frown on Shenzhen listing
· China Plans to Open Two Areas of Low-Altitude Airspace for General Aviation
The move will allow more of the sky to be used by drones, helicopters and electric aircraft, as Beijing seeks to bolster its airborne economy and bring its classifications into line with international norms
· Caixin China New Economy Index Dips to Five-Month Low
The reading came in at 29.9 in December, falling for the third consecutive month mainly due to declines in technology and capital inputs
· 17 Giant Pandas Came Home Last Year
The once endangered animals returned in 2023 because they had reached the age of sexual maturity or China’s agreement with the countries that borrowed them expired
· Evergrande’s EV Unit Says Share Sale with Dubai Automaker Lapses
Electric-vehicle maker loses lifeline to keep it afloat, but negotiations continue in the hope strategic investment can still be salvaged
· China, Thailand Agree on Permanent Visa-Free Travel Starting March
Surge in travelers expected as China and Thailand make temporary visa exemption permanent
· Wanda Offloads More Shopping Malls to Tackle Debt Woes
Four Wanda Plaza complexes were sold to a real estate fund management company in December, which put more than 1.4 billion yuan into the deal
· Year in Review: China’s Real Estate Sector in Crisis
As home sales continued to drop and developers’ liquidity problems grew, policymakers hit the rescue button with a slew of measures to try and kick-start sales and provide funding for cash-strapped developers
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This article was generated by Caixin Automation.
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