China’s benchmark Shanghai Composite Index (000001.SH) lost 0.9% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 1.53%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.96% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.59%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Beijing Joins the Home Sales Drive by Easing Mortgage Rules
Downpayment needed for first-time home buyers in Beijing falls from 30% to 20%
· Two Adidas China Employees Leave After Internal Graft Investigation
Anonymous whistleblower exposes potential compliance violations among German sportswear staff
· Hong Kong’s Talent Pass Scheme Drives Up Housing Rents
Rents are at a new high since 2020 in one of the world’s most expensive cities, but house sales are falling again
· China Provides Cheap Loans for Businesses to Upgrade Equipment
Loans to projects on a government list will attract a one percentage point discount on the re-lending interest rate of 1.75%
· China’s Car Trade-In Policy Falls Short of Expectations, Observers Say
Government receives just 113,000 applications under cash-for-clunkers scheme, as households remain reluctant to spend
· A Strong Chinese Economy Is Good for the World, Vietnam Prime Minister Says
China has a ‘pivotal position’ in global supply chains, Pham Minh Chinh says at World Economic Forum meeting
· China’s Top Auditor Warns of New Local Government Debt Problems
While there has been progress in tackling liabilities, new risks are emerging, the National Audit Office says in an annual report
· Exclusive: Chinese Policy Bank to Name New Vice President, Sources Say
Exim Bank is expected to appoint Yang Dongning, an official from China’s top financial regulator, who has joined the lender’s Communist Party committee
· Provincial Executive Vice Governor Hit With Graft Probe
Li Shisong, executive vice governor of Yunnan province, has been placed under investigation for ‘serious violations of discipline and law’
· Commentary: China’s Back Tax Probes Are Nothing to Fear
Local government tax inspections going back as many as 30 years sparked concerns that fiscal pressures could drive authorities to selective law enforcement against private businesses
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This article was generated by Caixin Automation.
