China’s benchmark Shanghai Composite Index (000001.SH) lost 1.23% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 1.03%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.4% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.92%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Hong Kong Luxury Villa Linked to Evergrande’s Hui Pledged for Loan
Billionaire founder of debt-laden developer comes under increasing pressure to tap into his personal wealth in addressing crisis
· Four Local Governments Violated Debt Policy on Eight Projects, Audit Finds
China’s State Council probes prohibited spending by heavily indebted government units in long-running campaign to deleverage the economy
· China’s Coal Futures Continue Dropping Amid Price Cap Talk
Wednesday decline of 10% drives the most-active thermal coal contract down 30.5% in a week as economic planners target even lower prices to ease the power crunch
· Venture Capital Firm Co-Founder Says Super Rich Should Help to Curb Inequality
Horizons Ventures’ co-founder Solina Chau warned that the current climate in which charitable acts are seen as ‘atonement’ or ‘transactional’ could harm innovation
· China’s Property Developers Told to Pay Their International Debts On Time
Foreign-exchange watchdog says it wants advance notice from any company that plans to default
· China Outlines Actions Needed to Peak Carbon Emissions by 2030
A plan released by the country’ cabinet highlights 10 sectors and the steps needed to reduce emissions intensity
· Two Wealthy Chinese Regions Vow to Wipe Out Implicit Government Debt
Shanghai and Guangdong pledge to clear all their off-balance-sheet liabilities, though neither offers a deadline
· China Suffers First Widespread Air Pollution of the Season
Wind direction was a factor as researchers say emission controls will help curb poor air quality
· Market Watchdog Reveals How and Why It Punished Bad Beauty Clinics
Regulator highlighted cases including businesses that lied about treatments, staff qualifications and online reviews
· Space Solar Power May Solve Key Renewables Challenge
Governments are investigating the possibility of collecting solar power with satellites to generate electricity on earth
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This article was generated by Caixin Automation.
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