China’s benchmark Shanghai Composite Index (000001.SH) gained 0.55% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.28%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.28% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) ended nearly flat.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: What’s Causing China’s Fertility Rate to Plummet?
Birthrates have dwindled after decades of strict family planning and the emergence of a highly competitive and expensive environment for raising kids
· Shandong AMC Takes Over Hengfeng Bank
The move comes four years after the scandal-hit bank received a state-backed bailout
· Guizhou Enacts Emergency Response for Wild Blaze
Two killed fighting forest fires in Guizhou’s Pu’an County but major infrastructure has not been damaged
· China’s State-Owned Developers Win $1 Billion Worth Land Auctions in Beijing
State-owned companies with access to low-cost financing buy two parcels of land for residential development in Beijing
· Crack Down on Abnormal Trading Does Not Restrict Selling, Says China’s Securities Watchdog
CSRC creates task force to monitor short selling as part of move to stamp out illegal behaviors that disrupt the market
· Lax Management, PR Blunders Led to EV-Maker HiPhi’s Undoing, Sources Say
The Chinese luxury electric car brand has halted production, dismissed contract workers and cut staff salaries
· Taobao Launches Livestreamer Sandbox in Fight for Market Share
The Alibaba shopping unit will provide celebrities, influencers and institutions with a host of services to help them speak to the masses in real time
· Analysis: China’s Tech Giants Could Turn Around Stock Market Rout
The mainland’s three-year stock rout could be reversed with an improved performance by tech stocks
· Jack Ma’s Wife Buys Three Multimillion-Dollar Properties in Singapore, Report Says
Zhang Ying, also a co-founder of Alibaba, buys adjoining shophouses on Duxton Road for as much as $37 million
· Hong Kong Population Ticks Up as Residents, Overseas Talent Trickle Back
The city had 7.5 million residents in 2023, with 33,200 newborns, a 2% increase on the year
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This article was generated by Caixin Automation.
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