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China’s benchmark Shanghai Composite Index (000001.SH) gained 0.08% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.32%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.77% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.95%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Extends Mortgage Rate Easing to Spur Home Sales
Cities recording housing price drops for three months straight can slash borrowing costs for first-home buyers
· Embattled Sunac Gets Extension on $2.3 Billion of Debt
Developer’s repayment of nine onshore notes and an asset-backed security stretched out by an average of 3.5 years
· China’s Railway Investment Falls for a Third Straight Year
Funding dropped 5.1% in 2022 as the country wraps up construction on major lines of the world’s largest high-speed rail network
· China Logistics Slammed by Covid Spike
The industry’s prosperity index fell to 46% in December, the second lowest reading for the year
· China to End Quarantine for Travelers From Hong Kong to the Mainland
Starting Sunday, people arriving from the city will be allowed entry if they have a negative PCR test result from the past 48 hours
· China Punishes Dozens for Academic Fraud at Medical Universities
Beijing is cracking down on scientific misconduct, after a spate of academic integrity scandals undermined its efforts to become a science superpower
· BYD Says It Can’t Judge How Many Cars It Will Sell This Year
The Chinese automaker cited uncertainties over supply chains and consumer demand stemming from the Covid-19 pandemic
· Debt-Strapped Sunac Divests Shenzhen Ski Resort Stake
State-backed partner Zhuhai Huafa to pay $518 million for Sunac’s 51% stake with proceeds earmarked for debt payment
· Unigroup Seeks Full Control of IT Joint Venture With Hewlett Packard
Multibillion-dollar buyout of H3C would bolster Unigroup’s profits, analysts project
Guizhou province-based Zunyi Road and Bridge reaches a deal with 21 creditor banks including China Citic to postpone repayment of $2.3 billion in borrowings
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This article was generated by Caixin Automation.
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