China’s benchmark Shanghai Composite Index (000001.SH) lost 1.02% on Monday, while the Shenzhen Component Index (399001.SZ) fell 1.13%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.5% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.79%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: Private Equity in China Heads for Exits Amid Three-Year Stock Slump
PE and venture capital investors seek new strategies as investments, fundraising and IPOs decline
· China Was World’s Largest Auto Exporter in 2023 After NEVs Drove Up Shipments
Overtaking Japan to claim the top spot last year, Chinese car-makers are forecast to continue to boost overseas shipments, which could reach 5.5 million in 2024, industry group says
· Former China National Petroleum Chairman Named in Corruption Probe
Wang Yilin, who served as Communist Party chief of the state-owned oil giant, was also removed as external director of China Three Gorges Corp.
· Weekend Long Read: Is Tennis Phenom Zheng Qinwen the Next Li Na?
The 21-year-old has a lot more in common with the legendary Chinese player than just their notable appearences at the Australian Open
· China Renaissance’s Billionaire Founder Bao Fan Steps Down
Company filing says prominent investment banker’s resignation is ‘for health reasons and to spend more time with his family’
· Six Rating Firms Fined a Total of $4.8 Million for Malpractice
The companies were accused of flaws in rating business procedures, violating independence requirements and breaching consistency principles
· Dajia Renews Efforts to Offload Assets of Fallen Insurer Anbang, Sources Say
Two subsidiaries may be put up for sale after bailout fund fails to find buyer for state-run group
· Ex-Sinopharm Manager Caught in Anti-Graft Dragnet
China’s corruption investigators are looking into Zhou Bin, a former deputy general manager of the state-owned drugmaker, for ‘serious violations of discipline and law’
· Analysis: Hong Kong, Mainland Reciprocal Court Rules Give Plaintiffs Legal Leg-Up
Under new rules that allow mutual recognition and enforcement of judgments in civil and commercial cases, those who initiate legal action can choose the more favorable court in matters where jurisdiction overlaps, experts say
· China Monthly New Property Sales Plunge to Five-Year Low
The country’s 100 biggest developers took in $33 billion in January, down 34.2%, as the ailing sector continues to grapple with a liquidity crisis
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