China’s benchmark Shanghai Composite Index (000001.SH) lost 0.92% on Monday, while the Shenzhen Component Index (399001.SZ) fell 2.06%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.79% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 3.49%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China’s Three-Year Stock Slump Resists Policy Prescriptions for Rebound
IPO limits and relaxed real estate policies prove no cure for world’s worst performing stock market
· China’s Outstanding Personal Mortgage Loans Post First Fall In Almost 20 Years
The decline can be largely attributed to the protracted property market downturn and homebuyers repaying their mortgage loans in advance, according to analysts
· Merck Signs Its First Long-Term Green Energy Purchase Deal In China
German drugmaker will buy 300 gigawatt-hours of electricity generated from renewable sources from China Resources Power over the next 10 years
· Weekend Long Read: Chinese Find Peace Among the Pitfalls of Midlife Move to Japan
About a quarter of the country’s long-term foreign residents are from China, who treasure the less stressful lifestyle despite the daily trials of living abroad
· China’s Debt-to-GDP Ratio Climbs to Record 287.8% in 2023
Macro leverage ratio rises 13.5 percentage points from year earlier despite sluggish borrowing as economic growth slows
· Regulators Push Targeted Funding for Eligible Property Projects
List of projects to be unveiled by end of January and funding to be available ‘immediately’ as authorities seek to revive ailing sector
· Tech Insider: Jack Ma Buys Alibaba Shares, IPhone Takes China Smartphone Crown
Oppo makes peace with Nokia with licensing deal, Tesla to send Cybertruck on China tour to burnish tech cred
· China Approves More Video Games in Sign of Further Easing on Sector
Regulator cleared 115 new domestic titles played on smartphones, consoles and personal computers for sale in January, compared with 105 last month
· Former Party Chief Charged With Abuse of Power for Breaking Borrowing Rules
Cao Jiongfang, ex-party secretary of Xiangtan in Hunan province, was subject to a ‘key additional investigation’ last year while already facing bribery charges, local graft busters say
· China’s Foreign Minister to Meet U.S. National Security Advisor in Thailand
Wang Yi set to hold a new round of talks with Jake Sullivan while on an official visit to the Southeast Asian nation
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This article was generated by Caixin Automation.
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