China’s benchmark Shanghai Composite Index (000001.SH) lost 0.76% on Monday, while the Shenzhen Component Index (399001.SZ) fell 1.18%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.91% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.4%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China’s Economy Appears Headed for Uneven Rebound
Surge in spending around Lunar New Year holiday is fueling optimism tempered by more sober outlooks for some sectors
· China Protests U.S. Downing of Chinese Unmanned Airship, Says It’s ‘Clear Overreaction’
Beijing says it will ‘resolutely safeguard’ the rights and interests of the company concerned and that the country reserves the right to make further responses if necessary
· China Regrets That Balloon Strayed Into U.S. Airspace, but Won’t Tolerate Hype
The Chinese side regrets the unintended entry of the airship into U.S. airspace due to force majeure, while the two sides communicated with each other on how to deal with a chance occurrence in a calm and professional manner
· China’s New Bank Loans Grew 6.8% Last Year, PBOC Says
The nation’s banks extended $3.15 trillion in new yuan-denominated loans in 2022, mainly driven by corporate borrowing
· Fugitive Hong Kong Mogul Auctions Up to $2 Million in Luxury Handbags
Joseph Lau Luen-hung is selling 77 rare Hermès bags in the largest single-owner handbag sale ever held in Asia, according to Sotheby’s
· Weekend Long Read: Is Someone Stealing Chinese New Year?
The shift to saying ‘Happy Lunar New Year’ is in no way a plot against Chinese culture, or an attempt to steal this festival, which cannot, after all, be stolen
· Former CSRC Accounting Head Expelled From Communist Party
Wang Zongcheng found to have accepted bribes from supervision targets in exchange for securities regulatory information
· China Plans Regulatory Rating System for Life Insurers to Curb Risks
Companies with the highest rating will have more freedom to develop while those with the lowest will see their operations restricted
· China May Scrap Limit on Municipal Land Sales to Boost Fiscal Revenue, Sources Say
Notice sent to local governments in December failed to mention the annual auction cap on land parcel sales, indicating it might no longer be in effect
· Update: Seven Things to Know About China’s Latest IPO System Overhaul
After testing the registration-based mechanism in China’s three smaller markets, regulators are now planning to roll it out to the two main boards
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
