China’s benchmark Shanghai Composite Index (000001.SH) lost 0.75% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.69%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.72% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.46%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China Lines Up Yet More Aid for the Property Sector, But Will It Be Enough? (Part 1）
New round of policy measures to support beleaguered developers is imminent, as Beijing seeks to check a protracted downturn, Caixin has learned
· China’s Covid Cases Hit Record For Third Straight Day as Lockdown Fatigue Grows
Deadly residential fire in Xinjiang has raised questions about whether tough pandemic restrictions may have contributed to the fatalities
· China’s Cities Struggle to Complete Land Sale Plans
Moribund property market leaves state-owned enterprises to buy the most land-use rights as some municipalities move to hold more auctions
· CSRC Suspends Huajin Securities’ Bond Underwriting for Three Months
Action follows special inspection this year of eight large securities firms’ investment banking businesses that found flaws in internal controls and security mechanisms
· Guangzhou Sends Non-Locals Home to Ease Pressure as Covid Cases Jump
Authorities in the southern metropolis have faced rare public unrest triggered by strict restrictions, while its medical resources are under pressure from a surge in cases
· China Fires Starting Gun on Personal Pension Scheme
First phase of the rollout will cover 36 cities and regions including Beijing, Shanghai and Chengdu, allowing workers to save up to 12,000 yuan a year tax free
· Caixin Media Hits Paid Readership Milestone
Subscribers topped 900,000 in October, cementing the company’s position as the world’s largest subscription-based news outlet outside the U.K. and the U.S., Publisher Hu Shuli announces
· In Depth: Why Saltwater Is Getting Into Shanghai’s Drinking Supply
After months of drought and searing temperatures, the Yangtze River is not giving the coastal city enough freshwater as the sea rolls in and turns the local supply brackish
· Tech Insider: BYD Considers Price Hikes as Tesla Boss Eyes South Korea
Top Tencent investor considers Meituan sell-off, Russian e-commerce platform opens China office
· As China’s Top Developers Plan Debt Sales Under Aid Plan, Weakest Miss Out
Property giants Vanke and Gemdale are the latest to apply for state-backed financing support, which favors ‘healthy’ property firms and not defaulters
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This article was generated by Caixin Automation.
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