China’s benchmark Shanghai Composite Index (000001.SH) lost 1.17% on Monday, while the Shenzhen Component Index (399001.SZ) fell 1.55%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.54% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.39%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China Mulls Tax System Overhaul to Ease Record Local Government Debt
Proposed reforms would shift revenue from the central government and relieve localities of some expenses
· China Slams EU’s EV Anti-Subsidy Probe as ‘Disregarding’ WTO Rules
Ministry of Commerce spokesperson He Yadong decried the requests for detailed business information from Chinese electric vehicle makers as beyond what is needed and ‘unprecedented’
· SAIC Undergoes Leadership Reshuffle as It Faces Sluggish Domestic Growth, EU Tariff Hikes
Wang Xiaoqiu, president of China’s largest state-owned automaker, is set to become chairman
· More Local Financial Asset Exchanges Cease Operation Amid Sweeping Cleanup
Crackdown on financial risks sees five local finance asset exchanges closed in one day
· Swiss Investment Giant Partners Boosts Asia Presence with New Hong Kong Office
Partners is confident Hong Kong is on track to become the world’s largest wealth management center
· China Puts Deputy Publicity Head Under Graft Probe
Zhang Jianchun in under investigation for ‘severe violations of discipline and law’
· Russia and Vietnam Pledge to Strengthen Ties During Putin Visit
Russian president flies to Hanoi on first trip to the Southeast Asian nation since 2017
· Soccer Match Broadcast Glitch Sparks Debate in China About Virtual Ads
Some Chinese Euro 2024 viewers noticed that the pitchside advertisements they saw on their screens were not the same ones that fans were seeing live
· Drug-Trafficking Into China Surges After Pandemic Curbs Lifted, Report Says
More than 20 tons of narcotics illegally shipped into the country were confiscated in 2023, up nearly 85% — with a marked increase in ‘bulk-trafficking,’ drug authority says
· Province’s Bond Plan Signals Beijing May Be Expanding Hidden-Debt Toolkit
Henan plans to bring $7.1 billion of borrowings onto its books with a new special-purpose bond
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This article was generated by Caixin Automation.
