China’s benchmark Shanghai Composite Index (000001.SH) lost 0.79% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.41%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.6% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.73%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Wanda Unit Seeks Extension for $600 Million Dollar Bonds
Property manager seeing liquidity squeeze amid ongoing market downturn; Wanda’s move raises questions about the rest of its offshore debt
· Boss of Game Livestreamer DouYu Detained by Police
DouYu founder and Chairman Chen Shaojie detained on Nov. 16 in Chengdu; DouYu says no word on reason for detention
· Tech Insider: Self-Driving Tech Gets Government Push, Automaker GAC’s Solid-State Battery Goal
Jack Ma’s family trust to sell $871 million in Alibaba shares, European firms want clarity on China’s data transfer rules
· China Calls for ‘Early Ceasefire’ in Gaza Conflict in Meeting With Arab-Islamic Ministers
Foreign Minister Wang Yi met with representatives from the Palestinians, Saudi Arabia, Egypt, Jordan, and Indonesia in Beijing, pledging to work for a ‘just and enduring settlement’
· Premier Li Takes Helm of China’s Top Financial Regulator
The Central Financial Commission is responsible for top-level design, coordination and supervision of the sector
· China’s Top Graft Buster Probes State-Owned Shanghai Industrial President Zhou Jun
Zhou resigns his posts from three units of Shanghai Industrial; investigation is latest corruption inquiry at Shanghai state-owned firms
· China Drafts List of Developers Eligible for Funding, Asks Banks to Boost Real Estate Lending
Chinese regulators tell lenders to meet minimum thresholds for real estate lending; banks pressed to lend to private developers along with state-owned firms; housing sales continue to slide
· Mastercard Gets Go-Ahead to Get Into China’s Trillion-Dollar Bank Card Clearing Business
The approval makes a Chinese joint venture of the U.S. credit card processing giant the second foreign-funded company to be granted such a clearing license in the country
· Chinese Automaker GAC Aims to Use Solid-State Battery by 2026
The technology holds the promise for a longer lifespan, increased range and faster charging times than conventional lithium-ion cells
· Cover Story: Rethinking China’s Property Market Meltdown
As top performers Gemdale and Vanke show signs of teetering, calls are growing for a fresh approach, with construction of public housing touted as a panacea
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This article was generated by Caixin Automation.
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