China’s benchmark Shanghai Composite Index (000001.SH) gained 0.58% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.23%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.37% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.83%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Cabinet Vows Stronger Policy to Boost Jobs Amid Covid Upsurge
State Council adds to sweeping guidelines issued Monday for bolstering the economy, offering tax and insurance cost relief for micro, small and medium businesses
· Meituan Shutters Beijing Grocery Group-Buying Service
Move sparks speculation over Covid link, but insiders say poor profitability, desire to refocus were likely more important
· China’s Cautious Banks and Bad-Debt Managers Urged to Come to Real Estate’s Rescue
The PBOC and banking regulator have instructed financial institutions to help distressed developers, including by purchasing their debts, sources say
· Beijing Calls for Justice in Bombing That Killed Three Chinese in Pakistan
Three Chinese nationals were among four people killed in the attack at a Confucius Institute
· In Depth: Why Easing Policies Might Not Revive China’s Property Market Any Time Soon
Sales remain weak despite authorities loosening monetary policy and making it easier to get a mortgage
· China’s Electricity Consumption Growth Slowed Further in April, Industry Body Says
Rate of expansion for the whole year could drop by as much as half from 2021, China Electricity Council says
· Opinion: How to Fine Tune China’s Version of the Individual Retirement Account
The proposed private pension system should encourage more people to participate and be connected with employer-sponsored plans
· Wuxi Allows Families With Two or More Kids to Buy a Second Home
Municipal health commission cites goal of promoting natural population growth by setting favorable conditions for larger families
· China Puts Its Foot on the Gas to Spur a Faltering Economy
Amid renewed pandemic disruptions, State Council issues sweeping guideless to bolster consumption, encourage new-energy vehicles, expand duty-free shops
· Five Things to Know About China’s Overarching Financial Stability Law
What’s the law’s purpose, who’s responsible for what, and major concerns over the proposed legislation
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This article was generated by Caixin Automation.
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