China’s benchmark Shanghai Composite Index (000001.SH) lost 1.06% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.83%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.12% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.06%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: Chinese Solar Giants' Shine Fades Amid Growing Product Glut
Price war triggered by overexpansion and weak demand produces first-half losses
· Ministry of Finance Wants to Tighten Rules for Foreign Accounting Bodies Operating in China
Ministry seeks feedback on draft regulations to strengthen oversight of overseas accounting organizations
· Tesla Targets 2025 for Full Self-Driving Launch in China and Europe, Pending Approval
Tesla reveals roadmap to roll out self-driving software on the road to autonomous driving
· Weekly Must-Read: Can CATL Stay Ahead?
Two lawmakers have called on the defense department to add the electric-vehicle battery maker to a list of companies with alleged ties to China’s military
· Top Chinese Securities Firms to Merge as State Calls for Consolidation
Guotai Junan and Haitong are both backed by the Shanghai government, smoothing the path to a deal that will be paid for through a share swap
· Mercedes-Benz Plans $2 Billion Joint Investment in China to Regain Lost Ground
The German company will collaborate with two local partners to produce a new series of passenger vehicles amid falling Chinese sales
· Poland Ratchets Up Defense Spending Amid Threat of Potential Russian Attack
Threat of attack is viewed as ‘very real,’ Władysław Kosiniak-Kamysz, deputy prime minister and defense minister, warned at regional forum
· China Will Need 9,000 New Aircraft Over Next Two Decades, C919 Plane Designer Says
Belt and Road Initiative is driving huge expansion in number of routes, says Wu Guanghui, chief designer of country’s first passenger jet
· China’s Digital Yuan Used for Nearly $1 Trillion of Transactions
More than 70% of the transactions using the central bank digital currency have been carried out since June 2023
· Exclusive: JD.com’s Fintech Arm to Buy Troubled Consumer Lending Firm, Sources Say
Purchase of wholly foreign-owned Home Credit Consumer Finance will give internet giant a coveted consumer finance license
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This article was generated by Caixin Automation.
