China’s benchmark Shanghai Composite Index (000001.SH) gained 0.11% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.25%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.48% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.43%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: Chinese Consumers Deluged With Cheap Loans
Banks are undercutting each other amid the government’s calls to support consumption and economic growth
· Myanmar Turns Three Top Telecom Scammers Over to China
Fourth leader of Ming gang commits suicide during the arrest by Myanmar police in cross-border enforcement action
· China Blasts European Union’s EV Probe for Using ‘Unfair’ Sampling
Commerce Ministry calls the inquiry’s process ‘opaque’ and suggests it may violate WTO rules and the EU’s own laws
· Xi-Biden Meeting Yields Pledge for Better Military Communications, Anti-Drug Cooperation
The Chinese and U.S. presidents agreed to resume high-level communication between the two countries’ militaries and better cooperate in combating illicit drugs such as fentanyl
· Xi Announces More Study Abroad Opportunities for Americans
At a dinner in San Francisco, the Chinese president shared details from his conversation with U.S. President Joe Biden regarding tourism and panda diplomacy
· China Housing Market’s ‘Silver October’ Tarnishes
Government policies to spur real estate run out of steam in a month when demand is normally hot as sales plunge 28.4% from September
· Xiaomi Offers First Glimpse of Its Debut EVs
Chinese smartphone-maker registers two electric models for assembly at Beijing factory to go on sale in the first half of 2024
· Local Hospital Officials Get Prison Time for Selling Birth Certificates
Three former senior administrators in Henan have been sentenced to up to eight years, while others in Hubei and Guangdong are in police custody
· Alibaba Expands in Europe With Investment in B2B Platform Visable
The move is part of the tech giant’s efforts to grow its country- or region-specific business, as some Chinese products lose their edge in price globally
· China, U.S. Agree to Boost Climate Cooperation Ahead of Leaders’ Meeting
A detailed action plan including holding new talks and policy exchanges was released Tuesday as President Xi Jinping landed in San Francisco for the APEC summit
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This article was generated by Caixin Automation.
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