China’s benchmark Shanghai Composite Index (000001.SH) lost 0.84% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.09%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.46% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.74%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China’s Assault on Big Tech’s ‘Walled Gardens’
Business growth models of Tencent, Alibaba, ByteDance and rivals face risks as government presses them to quit blocking links to one another’s services
· Power Supply Squeeze Leads Several Chinese Provinces to Impose Restrictions
Hunan, Guangdong, Liaoning, Jilin and Heilongjiang are resorting to power cuts and rationing on industrial users, though some residents have also been affected
· In Depth: How a ‘Patent Troll’ Ended Up Behind Bars
Li Xingwen has sued plenty of companies for violating his hundreds of patents. But his tactics in suing a pre-IPO company seem to have gone too far
· In Depth: Behind HNA’s Fall, a Web of Nepotism Spreading from New York to Hainan
Brothers of now-arrested Chairman Chen Feng and late co-founder Wang Jian wove a web of businesses that conducted secret dealings with bankrupt conglomerate
· HNA Chairman and CEO Taken In by Police
Company says Hainan cops have placed its executives under ‘coercive measures,’ which can include residential surveillance or detention
· China Minmetals Plans to Reforge Rare Earth Unit With Chinalco
Potential merger, which could also involve a local government, would form second-largest company in nation’s heavy rare earth sector
· Tech Insider: Xiaomi Tops Indonesia Smartphone Market, German Company to Make Flying Cars in China
Chip crunch forces China smartphone shipments down 10%, augmented reality glasses startup Nreal bags $100 million funding
· China Land Auctions Slump as Developers’ Debt Woes Deepen
Premiums collapse as cash-strapped companies grow wary of bidding up prices and housing demand cools
· Former Senior China Justice Official Fired for Litany of Corruption Allegations
Wang Like, who also oversaw law enforcement in Jiangsu province, was booted from the party for disloyalty and after a probe found evidence he provided a ‘protective umbrella’ to shelter ‘evil forces’
· Computer-Assisted Diagnostics Firm Shukun Files for Hong Kong Listing
Betting on the growth potential of AI medical imaging, the Beijing-based company plans to use funds to bolster research and development
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.
