China’s benchmark Shanghai Composite Index (000001.SH) gained 0.54% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.43%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.12% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.59%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s EV-Makers Taking Longer to Pay Bills Amid Rising Stress
Automotive upstart Nio and XPeng took weeks longer on average to clear their receipts payable in 2023, as compared with two years earlier
· Cover Story: China Set to Ease Controls on Genetic Resources to Plug Biotech Innovation Gap
The National Health Commission is spearheading the reform, Caixin has learned, in response to complaints that overly tough restrictions are choking innovation, particularly in the biotech and pharmaceutical sectors
· China’s Minister of Agriculture Investigated For Corruption
Tang Renjian, who was appointed minister in December 2020, is being probed for ‘severe violations of discipline and law’
· GAC’s EV Brand Teams Up With CATL on Battery-Swapping Business
Aion will develop EV models with swappable batteries, while CATL will supply battery packs, as car-maker seeks to expand its business amid slumping sales
· Former Trust Firm of Failed Tomorrow Holding Up For Sale Again at a Discount
All 6 billion shares of New Times Trust are on sale at a price 20% lower than previous unsuccessful attempt to find buyers for the firm once controlled by jailed tycoon Xiao Jianhua
· Weekend Long Read: China Inc.’s Overseas Expansion Has Echoes of Japan
A comparison of the two nations’ experience shows there’s more driving the change than domestic overcapacity.
· PBOC to Provide $42 Billion Cheap Loans for Program to Buy up Unsold Homes
Banks to pass on lending to local state-owned enterprises to buy unsold properties and resell or lease them as affordable housing
· China Approves 33 New Undergraduate Colleges to Boost Vocational Education
The new vocational colleges are part of a national strategy aiming to meet the growing demand for skilled professionals
· CSRC Sets Out Uplisting Obligations for Overseas OTC Companies
Regulator issues the clarification after Wetouch Technology failed to file a record of its uplisting in advance of moving to the Nasdaq stock exchange, sources tell Caixin
· China’s Capital Loosens Work Permit Requirements to Attract Overseas Talent
Foreigners graduating from universities both home and abroad will no longer need to have two years of job experience to apply in Beijing
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This article was generated by Caixin Automation.
