China’s benchmark Shanghai Composite Index (000001.SH) lost 0.52% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.22%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.08% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.39%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Encourages ‘High Quality’ Companies to Seek Borrowing Overseas
NDRC relaxes overseas bond sale regulations for leading companies with strong credit records
· Veteran Financial Regulator Charged With Bribery
An Qingsong is accused of peddling his influence and causing severe disruption in the capital markets
· Guangdong Fails to Match National GDP Growth Levels as Real Estate Slump Bites
The province reports only 3.9% GDP growth for the first half of 2024, below the national average of 5%
· Falling Government Bond Yields Prompt New Round of Life Insurance Rate Cuts
Although timing is unclear, the consensus is to cut the traditional insurance interest rate ceiling from 3.0% to 2.5%
· Chinese Auto Dealer Rebuts Claims It’s Reluctant to Save Stock From Delisting Territory
Grand Automotive is on track to be booted from the Shanghai Stock Exchange, despite claims that it has enough capital for share repurchases
· Key Insurance Data Provider Appoints Finance Veteran as President, Sources Say
Bai Weiqun has been tapped to fill the position at China Banking and Insurance Information Technology Management, which has been vacant for about three months
· China to Be Top National Market for Aircraft in the Coming Two Decades, Boeing Predicts
U.S. company predicts the country will buy more than 8,800 commercial planes through 2043, accounting for 20% of global demand
· Graft Watchdog Probes More Executives at China’s Biggest Bank
ICBC veteran Xu Yanfeng is among those targeted, and sources tell Caixin the investigation may be linked to his time in Liaoning province and his relationship with troubled Zhongwang Group
· Palestinian Factions Sign Unity Deal in Beijing
Hamas and Fatah agree to establish an interim government of national unity to rebuild Gaza
· Home Appliance Giant Midea Takes a Step Closer to Hong Kong IPO
The home appliance giant has 12 months to complete the listing before it will have to update its registration with China’s securities regulator
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This article was generated by Caixin Automation.
