China’s benchmark Shanghai Composite Index (000001.SH) lost 0.44% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.12%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.33% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.17%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: Chinese Auto Makers Rev Up Price War in Race for Market Dominance
Elon Musk’s Tesla kicked off the intense competition, with BYD, XPeng and Nio joining the fray in a bruising contest that could reshape China’s auto market
· Apple CEO Tim Cook Urges China’s Youth to Embrace Era of Tech Innovation
Cook made the comments at the China Development Forum, hosted by the State Council’s think tank, in Beijing
· Macao-Based Blockchain Asset Exchange Starts Trial Operation
Micro Connect is aimed at helping China’s micro and small businesses raise funds from global investors
· Macao-Based Blockchain Asset Exchange Starts Trial Operation
Micro Connect is aimed at helping China’s micro and small businesses raise funds from global investors
The two factors are obstacles to the mid- and long-term expansion of the economy, Han Wenxiu of the Central Financial and Economic Affairs Commission’s general office, tells a panel at the China Development Forum
· Meituan’s Revenue Jumped After Covid Boosted Meal Delivery
Sales rose 21% in December quarter, beating estimates, and loss narrowed as world’s largest meal delivery service braces for post-pandemic changes
· China Adds Shopping Malls to REIT Pilot Program
Expansion of real estate investment trust trial includes department stores and farmers’ markets but not commercial residential development projects
· Hong Kong Lowers the Listing Bar for Specialist Tech Companies
Exchange invites share sales by companies with market cap of $764.4 million and halves the revenue hurdle for 20 sectors including AI, robotics and semiconductors
· China’s Automakers Urged to Dial Down Price War
The China Association of Automobile Manufacturers issued the warning to ‘cool down’ intense competition sparked by efforts to boost sluggish sales
· Tech Insider: TikTok CEO Grilled, Geely’s NEV Sales Soar
Google’s former China chief gets in on ChatGPT mania, Tencent’s quarterly revenue starts growing again
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This article was generated by Caixin Automation.
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