China’s benchmark Shanghai Composite Index (000001.SH) gained 0.06% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.07%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.21% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.19%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· BMW, Mercedes to Set Up JV to Operate EV Charging Network in China
German automakers plan at least 1,000 fast-charging stations by the end of 2026, open to all brands
· Chairpersons of Two Zhongzhi-Affiliated Listed Companies Go Missing
Caixin sources link disappearance of chairpersons at Dalian My Gym and Xinjiang Tianshan to investigation of Zhongzhi-linked wealth management firms
· Gemdale Steps up Asset Divestiture as Debt Woe Looms
Troubled developer faces more than 10 billion yuan of maturing debt; doubts about financial stability grow as sales drop, liquidity dries up
· Central China City Calls Out Developers for Breaking ‘Presale Fund’ Rules
Wuhan housing bureau names 16 companies, including seven that had failed to transfer revenue to specified escrow accounts in order to evade oversight
· China Aims to Ensure Migrant Workers Get Paid Before Lunar New Year
Provincial-level governments have told local authorities under their jurisdictions to ensure employers pay wage arrears before the country’s most important holiday begins in February
· Update: China Mourns Loss of ‘Old Friend’ Kissinger
The former U.S. secretary of state was a key figure in the normalization of Sino-U.S. relations and had visited China over 100 times, most recently just four months ago to meet with President Xi Jinping
· Xi’s Shanghai Visit Focuses on Tech Innovation, Affordable Housing
The president’s first official trip to the financial hub in three years included stops at the futures exchange, a sci-tech exhibition and a government-subsidized rental housing community
· Top Stories of the Month: Rethinking China’s Property Market Meltdown
As top performers Gemdale and Vanke show signs of teetering, calls are growing for a fresh approach, with construction of public housing touted as a panacea
· China Life and NCI Join Hands in $7 Billion Fund for Stock Investments
New fund to make long-term investments in listed shares; analysts say insurers responding to central government call to bolster flagging stock market
· Tesla Opens More Charging Facilities to Competitors in China
U.S. carmaker aims to leverage its extensive charging infrastructure to boost revenue, utilization rates
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This article was generated by Caixin Automation.
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