China’s benchmark Shanghai Composite Index (000001.SH) gained 0.43% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.0%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.48% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.93%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s First Home-made Dual-Fuel Ro-Ro Ship Embarks on Maiden Voyage
SAIC Anji Sincerity is built to carry up to 7,600 passenger cars and its dual-fuel system enables it to reduce carbon emissions by 30% compared with a ship of similar size
· BYD to Debut in Indonesian Car Market
The Chinese EV-maker, which already sells vehicles in more than 70 countries, has been trying to further expand its global footprint with exports surging 334.2% last year
· Huawei Sets Up Separate Smart Car Unit, Site Shows
The company’s Intelligent Automotive Solution Business Unit will be integrated into the new subsidiary, called Yinwang Intelligent Technology, source says
· China Willing to Import More ‘Marketable’ EU Products, Premier Says
The gesture is part of an effort to establish a more balanced trade relationship with the bloc, Li Qiang says
· Country Garden Pledges to Deliver More Than 480,000 Homes in 2024
Distressed property developer Country Garden is confident it can repair its balance sheet and will keep its focus on delivery, says Chairwoman Yang Huiyan
· Huawei Faces Delays in EV Deliveries
Supply chain issues could be why the Chinese tech giant has failed to deliver the Luxseed S7 sedan it developed with Chery Automobile on schedule
· China, Switzerland to Discuss Upgrading 2013 Trade Deal
During a meeting with the Swiss president, Premier Li Qiang offered visa-free treatment, continuation of high-level exchanges
· China’s Economy Likely Grew Around 5.2% in 2023, Premier Says
Choosing the China market isn’t a risk, but an opportunity, Li Qiang tells the World Economic Forum, saying the long-term trend of growth won’t change despite the ebb and flow
· Tech Insider: CATL’s Beijing Battery Plant, BYD Pulls Further Ahead
Tesla cuts prices in China, Tencent-ByteDance ceasefire holds with livestream deal
· Three Executives Fined $93 Million by CSRC for Manipulating Stock Price
Company chairmen colluded to inflate JT Automation’s share price and cash in, illegally pocketing $9 million, CSRC reports
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