China’s benchmark Shanghai Composite Index (000001.SH) lost 0.97% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.53%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.91% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.08%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Guandian Defense Cleared for Move to STAR Market
Provider of drone services to police, military and oil industry will become first company traded on Beijing Stock Exchange to make the transfer
· In Depth: The Legacy of Rags-to-Riches Wealth Management Tycoon Xie Zhikun
Known as a workaholic and for his habit of keeping a diary, the founder of Zhongzhi Enterprise Group built a sprawling financial empire
· Moscow Keeping Beijing in the Loop on Security Talks With the West on Ukraine, Envoy Says
The two countries are studying ways to minimize the potential impact of the Ukraine issue on the bilateral ties, according to the Russian ambassador to China
· Shenzhen Tightens Entry Rules on Travelers From Hong Kong Due to Covid Concerns
Additional quarantine requirements may stymie cross-border family reunions this Lunar New Year
· Evergrande Will Come Up With a Plan to Restructure Its Debt — Within Six Months
The developer says it’s working on a draft with a government-appointed risk management committee, and is resuming construction on projects
· Chinese Battery Material Supplier to Return to Profit on Surging EV Demand
Tianqi Lithium says it expects to post between $284 million to $378 million in net profit
· China’s Banking Regulator Plans ‘Traffic Lights’ for Financial Sector
CBIRC’s 2022 goals include curbing the use of funds by banks and insurance companies for ‘blind overleveraging,’ financial monopolies and unfair competition
· Baidu, Geely EV Venture Raises $400 Million of Fresh Funding
Jidu Auto partnership to pour the funding into R&D and mass production of its first self-driving auto
· China’s Commerce Ministry Warns of Challenges to Foreign Investment in 2022
Covid-19 pandemic, changes to global supply chains, among factors contributing to ‘complicated’ international environment, official says
· China’s Tech Giants Take Stakes in More Companies as Crackdown Hits Growth
Tencent, Alibaba and ByteDance look for new ways to boost business as regulators tighten oversight
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.
