China’s benchmark Shanghai Composite Index (000001.SH) lost 2.58% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 2.83%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.35% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.67%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Embattled Shimao Gears Up Asset Sales for Debt Relief
Property developer puts up 34 projects for sale, valuing 15 of them at $6.65 billion amid a debt-triggered surge in dealmaking
· Chinese Provinces Cut 2022 Growth Targets Amid Headwinds
Only Gansu and Inner Mongolia project faster or unchanged growth as the pandemic and the plunging real estate market weigh on prospects
Case involved ‘critical mistakes on the part of the FBI, federal prosecutors, and other federal investigative agencies,’ Gang Chen wrote in an op-ed
· China Needs to Remake Its Energy System to Meet Climate Goals, Group Says
A carbon tax, improved carbon market and greater tech innovation will be key, ASEAN+3 Macroeconomic Research Office says
· Foxconn Partners With Indonesia to Make Electric Cars
The contract manufacturing giant expects electric vehicles will make up 5% of its revenue by 2025
· As Electric Car Subsidies Dry Up, BYD Hikes Its Prices
The Shenzhen-listed EV- and battery-maker is asking buyers to pay up to 7,000 yuan more per vehicle
· China Gets a Step Closer to Unifying Its Fragmented $20 Trillion Bond Market
Central bank and top securities regulator approve measures to allow investors in part of the market to trade on the other
· More Than Six Dozen Covid-19 Cases Found Among Beijing Olympics Early Arrivals
The cases were identified upon entry at the airport and within the Games ‘closed loop’ system
· Cover Story: Beijing Gears Up for Winter Olympics Amid Omicron Threat
China creates stringent ‘closed loop’ system to isolate competitors and staff from Covid-19 as it demonstrates green technology and builds up winter sports
· Opinion: The Zhengzhou Disaster Cover-Up Spotlights a Longstanding Reflex
Disregarding official policy, local authorities for weeks withheld reporting of a third of fatalities in epic flooding, government investigators find
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.
