China’s benchmark Shanghai Composite Index (000001.SH) gained 0.49% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.11%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.17% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.11%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Property Price Slide Continues as Number of Unsold Homes Hits New High
Downturn in China’s property sector shows little sign of abating despite a slew of policy initiatives to support it
· Zoomlion Scraps Listing Plan to Spin off Aerial Machinery Unit
Zoomlion’s link up with Luchang abandoned due to changing market conditions
· Property Losses Expedite Merger of China’s Top Securities Firms
Authorities are pushing the deal in an effort to rescue Haitong Securities, after its offshore unit suffered eye-watering losses, sources say
· Foreign Businesses Complain of Lack of Government Support, China Association Says
Problems include rising supply-chain costs, unfair treatment, and lack of transparency in market access, the China Association of Enterprises with Foreign Investment’s survey shows
· China’s Move to Raise Retirement Age Elicits Calls for More Incentives to Work Longer
The plan, which will begin next year and be implemented gradually, should include benefits such as additional pension payments that encourage people to extend their working lives, experts say
· Opinion: Better Corporate Governance Is the Path to Strengthening China’s Brokerages
The securities industry must sharpen its internal management and cultivate expertise to gradually emerge from its downturn
· China’s Auto JVs Extend Price War With Launch of Discounted Models
Chinese-foreign automaking partnerships have put out at least three new models over the past week, all at sharply cut prices
· Flights, Trains Canceled as Typhoon Bebinca Slams Into Shanghai
The most powerful typhoon to hit Shanghai in decades made landfall around 7:30 a.m., blasting the city with winds of up to 94 mph
· Cover Story: Huawei’s Smart Car Ambitions Face Hurdles as It Seeks to Replicate Aito’s Success
While the tech giant’s three other electric vehicle partnerships with auto-makers like Chery have thus far failed to shine, its next steps could put it on track to rival U.S. behemoth Tesla in the China smart car market
· Weekend Long Read: How to Stop Net Dumping in China’s Largest Fishing Ground
NGOs and fishers are seeking solutions to the problem, which harms marine life indiscriminately and hampers fishing operations
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This article was generated by Caixin Automation.
