China’s benchmark Shanghai Composite Index (000001.SH) gained 0.66% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.27%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.29% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.46%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Energy Insider: China’s Top Nickel Trader Eyes Hong Kong Share Sale
Solar product exports surge 60%; Hong Kong to raise $770 million in retail bond sale; CATL considers building more factories outside China
· City in Shandong Takes First Step to Shore Up Housing Market
State-owned banks slash down-payment requirements in Heze, with 8.8 million people, which also took the lead in 2018 round of easing
· Zhongtian Securities Fined for Anti-Money Laundering Breaches
In first such penalty imposed on a brokerage house this year, central bank imposes $216,000 fine for failing to comply with regulations
· China’s Reliance on Foreign Oil Declines for First Time in 20 Years
Crude imports declined 5.4% in 2021 as global prices surged, domestic output expanded and authorities strengthened supervision of local refiners
· Chinese Banks to Sell $3.94 Billion of Bonds for Real Estate Deals
Borrowings by Pudong Development, Guangfa, Ping An and Industrial Bank will help carry out authorities’ push for M&A to ease the property market debt crisis
· Chinese Province Sets Up Team to Probe Shackled Mother Case
Following probes by the local county and city, Jiangsu government says it would ‘severely’ punish any criminal acts and hold those related accountable
· Facing a Tough Year Ahead, Chinese Developers Trim Fat
Real estate companies are downsizing headquarters, reassigning staff and streamlining management in hopes of boosting efficiency amid dwindling profit margins
· South China Province Offers Cash for Tips on Illegal Border Crossing, Smuggling
Guangdong starts offering rewards after a handful of stowaways from Hong Kong tested positive for Covid-19
· In Depth: How a State Insurance Boss Got a Cache of Gold Bars
Former Taiping chief Wang Bin, now under investigation, knit a network of shady Hong Kong business partners including a convicted gangster
· Opinion: Can the Yuan-Dollar Exchange Rate Reach 5?
If China’s economy continues to develop steadily, its currency could strengthen against the greenback by 25% to 30% once per capita GDP reaches $20,000. But world-class industries are needed
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
