China’s benchmark Shanghai Composite Index (000001.SH) lost 0.85% on Friday, while the Shenzhen Component Index (399001.SZ) fell 1.07%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.96% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.45%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: Chinese Carmakers Enter 2024 Fighting Price War, Heightened EV Competition
On track for record 2023 sales, China’s auto industry won’t see profitability follow suit
· China Will Increase Government Spending to Bolster Economy
Beijing to strengthen fiscal resources as it goes for growth in an attempt to lift China out of the post-Covid doldrums, says new finance minister
· China Recorded the Hottest Year in 2023 Amid Climate Change
Records shattered as temperatures hit new highs in China and around the world, while next year could be even hotter, experts warn
· Beijing Stock Exchange Lists First Corporate Bond Issued by Sovereign Wealth Fund
Beijing Automotive Group also plans a bond issue on the capital’s bourse following success of Beijing State-Owned Assets Management’s issuance
· China’s Latest AI Restrictions Target Scientific Research
New guidelines prohibit the use of the technology to create research applications and bar researchers from listing generative AI tools as co-authors of papers
· New China Life Sets up $1.4 Billion Fund for Property Investments
Leading insurance company joins with CICC to seek long-term investments in companies with real estate assets
· Saudi Aramco and China’s Rongsheng Plan Closer Tie-up
World’s biggest oil producer and Chinese petrochemical giant to buy mutual stakes as they expand supply partnership
· China’s Largest Milk Tea Seller Mixue Applies for Hong Kong IPO
Profitable consumer chain turns to Hong Kong after Chinese authorities frown on Shenzhen listing
· China Plans to Open Two Areas of Low-Altitude Airspace for General Aviation
The move will allow more of the sky to be used by drones, helicopters and electric aircraft, as Beijing seeks to bolster its airborne economy and bring its classifications into line with international norms
· Caixin China New Economy Index Dips to Five-Month Low
The reading came in at 29.9 in December, falling for the third consecutive month mainly due to declines in technology and capital inputs
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This article was generated by Caixin Automation.
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