China’s benchmark Shanghai Composite Index (000001.SH) gained 0.08% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.21%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.4% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.29%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Caixin Explains: What’s in China’s Policy Toolbox to Tackle the Ballooning Housing Stocks
The Politburo wants to reduce China’s housing inventory and stimulate home sales. How will they do it?
· Singapore’s New PM Takes Office Pledging to Build Better Tomorrow
Singapore passes the baton, not just between leadership teams but across generations, says Lawrence Wong at swearing in
· Fosun’s Hospital Unit Secures $41 Million Funding With IPO Promise
Shanghai Fosun Pharmaceutical Co. Ltd. intends to spin off its hospital business for a separate listing
· China Fines KFC and Other Businesses for Rejecting Cash Payments
The central bank has hit seven companies, including a property developer, with penalties ranging from $414 to $7,600
· Bribes, Booze and Books Uncovered in Veteran Securities Regulator’s Corruption Probe
An Qingsong has been dismissed from the China Futures Association for misconduct that included accepting bottles of Moutai liquor and pushing his own writing on subordinates
· Former ICBC Anti-Graft Chief Charged With Taking ‘Huge’ Bribes
Liu Lixian also allegedly abused his power while working at scandal-plagued China Huarong Asset Management and the country’s top prosecutor
· U.S. to Increase Tariffs on $18 Billion Worth of Chinese Imports, from EVs to Semiconductors
China’s commerce ministry strongly opposes politicization of trade issues, saying U.S. tariffs imposed for domestic political considerations
· Charles Li’s Micro Connect Rallies Key Employees to Invest in ‘Leading Sheep’ Program
Core frontline employees are being asked to put their money into an investment program that aligns their interests with their company’s
· China’s Credit Contraction Caused by Changes to Banks’ GDP Calculation, Economists Say
The authorities have switched to a method that relies mostly on lenders’ profitability metrics, rather than growth in loans and deposits
· McDonald’s Apologizes Over Reports of China Food Safety Violations
The U.S. burger giant is cooperating with regulators to investigate reports that employees at two outlets used expired ingredients and tampered with expiration labels
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This article was generated by Caixin Automation.
