China’s benchmark Shanghai Composite Index (000001.SH) lost 0.43% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.58%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.91% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.91%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Foxconn Offers Cash and Rides to Lure Back Runaway Workers
Flight of workers panicked over Covid disrupts main iPhone 14 factory in Zhengzhou, prompting Apple supplier to offer $55 daily bounties for showing up
· One of China Evergrande’s Creditors Sells Hong Kong Plot for $637 Million
The tract of undeveloped residential real estate was pledged by the property giant’s subsidiaries as collateral for a loan last year
· Beijing Shames Local Authorities for ‘One-Size-Fits-All’ Covid Policies
Several cities have vowed to change their ways after being called out by the National Health Commission
· Cover Story: The Dilemma of China’s Power Market Restructuring
Drive to balance state control of electricity prices with market forces hits a $1.39 billion pothole in Zhejiang that officials can’t fill
· Woman Falls to Her Death From Building Sealed Off for Covid Control
Daughter in Inner Mongolia’s Hohhot goes viral on social media as she cries out for help trying to get past building’s welded-shut gate
· China to ‘Unswervingly’ Keep to Covid Zero Policy, Dashing Hopes
Stringent policies have put cities, factories and millions under prolonged lockdowns
· Deputy Chinese Central Bank Governor Probed, Sources Say
Deputy PBOC governor Fan Yifei became the first high-level official to be detained after the party congress
· Morningstar Pays $31 Million to Scale Back China Business
Several hundred people in the southern China technology hub have their posts relocated to Mumbai, Madrid, Toronto and Chicago, Bloomberg reports
· Weekend Long Read: Can Anyone Replace China as the World’s Factory?
Economic and geopolitical factors threaten the country’s status in global manufacturing, but its would-be successors all have problems of their own
· China Clears the Way for New Personal Pension System
Government agencies issue key documents and rules for launching a multibillion-dollar industry encouraging personal saving and investment for retirement
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This article was generated by Caixin Automation.
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