China’s benchmark Shanghai Composite Index (000001.SH) lost 0.96% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.09%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.36% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.18%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Energy Insider: China’s New-Energy Vehicle Industry Booms
Electric-car sales at home and abroad soar; lithium prices set a record; PetroChina profits surge fivefold
· China Slashes More International Flights Amid Covid Resurgence
Suspensions affect 182 international flights already this year as China scrambles to contain virus flare-ups ahead of Olympics
· Former Sanya Party Chief Pleads Guilty to Taking $43 Million of Bribes
Tong Daochi, accused of using his positions to offer business favors and promotions, is to be sentenced later
· Suning’s PPLive Ordered to Pay $213 million to Premier League
U.K. court rules against Chinese broadcaster in dispute over payments for rights to air matches after the soccer league suspended play amid the pandemic in 2020
· China Sets Five-Year Targets to Boost Digital Economy
A new plan aims for the contribution of core industries in the sector to reach 10% of GDP by 2025
· In Depth: China’s Property Slump Pushes Real Estate Agencies to Remake Their Business
The slump in the country’s seemingly invincible market has taken toll on property brokers, which have suffered mass layoffs and falling revenue since the second half of 2021
· Evergrande Auto Stock Plunges After It Finally Makes First Car
After years of delays, the troubled automaker says it produced its first electric vehicle 12 days ahead of schedule
· China Strengthens Curbs on ‘Disguised’ Tutoring as Winter Break Approaches
Curriculum subjects are still on offer by institutions eager to skirt new rules as tutoring industry turns nonprofit
· China’s GAC Projects Profit Rebound as It Drives Hard Into Electric Vehicles
The state-owned automaker estimates its 2021 earnings jumped as much as 27% as sales of its EV subsidiary took off
· Lithium Price Breaks Record on Tight Supply Concerns
Battery-trade lithium carbonate hits $49,600 a ton, up almost a third in a month, amid surging demand from the booming EV industry
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This article was generated by Caixin Automation.
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