China’s benchmark Shanghai Composite Index (000001.SH) gained 0.13% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 1.18%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.42% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.83%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Opinion: China Needs to Break the Stalemate on Smarter Covid Control
State Council’s 20-point plan to make pandemic prevention more scientific runs into doubt and fear among local authorities carrying it out
· Exclusive: STX Dalian Shipyard Resumes Operation After Hengli Takeover
Idled since 2015, shipbuilding site emerges from bankruptcy as conglomerate Hengli moves to expand its shipping fleet
· Central Bank Plans New Lending Tool to Support Embattled Developers
Addition of $28 billion at zero cost is intended to encourage 18 big banks to issue credit to builders with stalled residential projects
· Canada’s Manulife Approved to Take Full Control of Its China Mutual Fund Venture
The insurance giant will follow in the footsteps of BlackRock, Fidelity, and Neuberger Berman in running a wholly foreign-owned mutual fund business
· Pony.ai Turns to Assisted Driving as Fully Autonomous Tech Hits Barriers
The startup seeks new revenue streams as its core business faces safety and cost roadblocks
· Chinese City Reverses Covid Control Easing as Case Count Surges
The restrictions, including keeping its 11 million residents at home for five days, were imposed just a week after Hebei’s provincial capital Shijiazhuang had abolished regular testing
· Two Former Top Men at Beijing Trust Firm Hit With Graft Probes
A former chairman and an ex-general manager of Beijing International Trust are under investigation in cases that sources say could be linked to a fallen local official
· Cover Story: China’s Halting Steps to Dial Back ‘Zero Covid’
As central authorities cite scientific evidence for easing travel and testing rules, local officials worry about being held accountable for new outbreaks
· Caixin Summit: China Should Set GDP Target of No Less Than 5% for 2023, Top State Economist Says
Liu Shijin, a member of the top political consultative body, said momentum was building for a turnaround next year after a slowdown in 2022
· Flights to China Still Lag Demand Despite Easing of Some Covid Restrictions, Sources Say
Tickets from hubs like Singapore and Bangkok remain hard to get and expensive, dashing hopes of a quick resumption of inbound travel
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
