China’s benchmark Shanghai Composite Index (000001.SH) gained 0.08% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.97%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.48% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.05%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
CATL’s chief says there’s a better way than tariffs to steer where EV batteries get made, sales of clean energy-powered heavy trucks surge 139%
· Microsoft Shuts Physical Stores in China in Shift to Online-Only Sales
U.S. tech giant only retains offline locations for after-sales services and online storefronts, according to ‘store manager’
· Southwest Securities Relinquishes Control of its Hong Kong Unit
Individual investor Wong Man Hin Max has paid $11.5 million for 74.01% of Southwest Securities International’s stake
· Matrix Partners Renames India and China Units to Stress Their Independence
Multinational Venture capital firms are adapting to an evolving geopolitical landscape by splitting their Chinese and U.S. investment teams
· China Tightens Grip on Rare Earths to Ensure ‘Industrial Security’
New regulation stipulates that all entities involved in the industry must enter data into a new system for tracing rare earth products
· Anbang’s Rescuer Seeks to Sell Off Annuity Unit
The sale would help Dajia Insurance’s controlling shareholder exit its investment
· Chinese Social Media Platforms Pledge Crackdown on Extreme Nationalism After Deadly Attack
Weibo, Douyin and others issue statements condemning extremism after stabbing that left one Chinese dead, two Japanese wounded
· Dozens of Rural Governments Shortchange Student Meals to Shore Up Budgets
Sixty-six counties around China diverted more than 1.9 billion yuan of the roughly 23 billion yuan that some 160 counties received in special funds from Beijing, national audit report finds
· New Law to Give Communist Party Bigger Say in Supervising China’s Financial System
The Central Committee’s financial work leadership agency will research policies for maintaining stability, according to a new draft of the Financial Stability Law
· Man Who Built China’s Largest Private Steelmaker Dies at 78
Chinese steel tsar Shen Wenrong built Shagang from a workshop at a cotton processing factory to an empire pumping out 40 million tons of the metal a year
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This article was generated by Caixin Automation.
