China’s benchmark Shanghai Composite Index (000001.SH) lost 0.8% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.24%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.41% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.2%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Third-Quarter GDP Grows 4.9%, Exceeding Expectations
The reading comes after policymakers rolled out a string of measures to boost confidence and shore up the economic recovery
· Gemdale Plunges on Chairman’s Resignation and Debt Concerns
Ling Ke steps down after 25 years, citing health issues, intensifying investor concerns about the developer’s financial stability
· Chinese Belt and Road Loans Total $687 Billion Over a Decade
China marks the 10th anniversary of President Xi Jinping’s global infrastructure project, hosting 140 nations at a forum in Beijing
· State-Owned Companies Buy Back Shares to Boost Investor Confidence
Amid China’s stock market slump, 50 state-owned enterprises roll out buybacks or announce plans by big stockholders to expand their holdings
· China’s Tsingshan to Invest $233 Million in Chile Lithium Plant
Chilean President Gabriel Boric unveils deal on visit to Beijing for Belt and Road Forum after China’s BYD started $290 million lithium project there
· Putin and U.N. Chief to Speak at Belt and Road Forum
More than a dozen global leaders will be in Beijing for the conference, which takes place amid heightened geopolitical tensions stemming from the Israel-Hamas conflict and Russia-Ukraine war
· Tech Insider: Foreign Automakers’ China JV Gamble, Ehang’s Air Taxi Certified to Fly
Courier J&T Global aims to raise $501 million in Hong Kong IPO, TikTok appeals $363 million EU teen data privacy fine
· China’s Scandal-Plagued Soccer Authority Appoints New President
Song Kai had led Liaoning province’s sports administration for seven years, during which the province won several basketball titles
· Former China Life Unit Executive Falls Under Graft Probe
Mei Jianya, who led Zhejiang branch of China Life Pension, joins a growing parade of officials caught up in a corruption crackdown
· Borrowing Surges Among Private Shenzhen Enterprises
Tech hub in southern China’s Guangdong — the country's hottest economy — shows reviving business confidence as supportive policies take hold
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