China’s benchmark Shanghai Composite Index (000001.SH) gained 0.57% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.08%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.45% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.65%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· U.S. Chipmaker Qorvo Sells China Facilities in Supply Chain Revamp
Chinese iPhone producer Luxshare to buy U.S. chipmaker Qorvo’s assembly and test facilities in Beijing and Dezhou as part of America’s reshaping of its semiconductor industry
· Chairman and CFO of JD.com’s Delivery Unit Dada Nexus Resign Amid Leadership Reshuffle
Personal reasons cited for resignations as two leading executives of retail delivery platform Dada Nexus stand down
· Ping An Bank Lists $166 Million Baoneng’s Debts for Sale
Bank puts debt up for public auction as Shenzhen-based Baoneng conglomerate faces unpaid wage demands and creditors seeking loan repayments
· AVIC Trust Fills One-year Vacancy with New Chairman Appointment
Acting general manager takes over as chairman at AVIC Trust a year after his predecessor stood down in connection with a graft probe
· Former Shanghai Chief Prosecutor Gets 13 Years for Bribery
Zhang Bencai pleaded guilty in August to taking nearly $7 million in exchange for helping people with their businesses and careers over 16 years
· Alibaba Boss Eddie Wu Named CEO of E-Commerce Unit
Replacing Trudy Dai, the conglomerate’s co-founder is now chief executive and chairman of its core Taobao and Tmall Group
· Country Garden Affiliated Property Manager Writes Down $576 Million
Share price plunges 11.5% as leading property manager’s profits are hit by prolonged debt crisis among developers
· Chinese Cities Greenlight Carmakers to Test L3 Self-Driving on Roads
Starting flag is waved as cities grant permits to motor manufacturers to test self-driving cars on designated Chinese highways
· China Mourns One of Its ‘Three Elders of The Rule of Law’
Jiang Ping, a leading legal scholar who helped draft China’s Property Law, Contract Law and Administrative Law, has passed away at the age of 92. A champion of private rights, his teaching career lasted more than 60 years
· Christie’s Posts 25% Drop in Sales in 2023
Auction house blames contraction of art market for drop in sales but says a growth in new buyers is a good sign
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This article was generated by Caixin Automation.
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