China’s benchmark Shanghai Composite Index (000001.SH) gained 0.71% on Friday, while the Shenzhen Component Index (399001.SZ) rose 1.22%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.8% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.47%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Jeffrey Bader, Navigator and Defender of U.S.-China Engagement, Dies at 78
The prominent member of Obama’s foreign policy team helped design the former president’s rebalancing strategy toward the Asia-Pacific
· Weekly Must-Read: The Opportunities and Roadblocks Facing China’s AI Models
Incorporating large language model applications into office productivity tools is becoming a hotspot for the sector, even as it faces an uncertain future over the technology’s profitability
· New Generation of Private Chinese Business Owners Takes Over
Unprecedented succession wave poses challenges and opportunities as first-generation entrepreneurs begin to retire
· Baoneng Investment Raises $26.5 Million in Another Asset Sale
A unit of the cash-strapped conglomerate divests 6 million shares of Jonjee Hi-Tech Industrial, majority-held by Baoneng, in a court auction
· China Cuts Capital Requirements for Mortgage Lending
Top financial regulator issues final rules for capital management of commercial banks, easing some requirements from draft rules issued in February
· Opinion: Five Takeaways From China’s Central Financial Work Conference
The meeting agreed to establish a long-term mechanism to handle local government debt, along with a plan for the timely resolution of risks in small and midsize financial institutions
Energy regulator clamps down on forced green investments, Xinjiang pilot free trade zone puts energy in spotlight, China announces its positions for COP28
· In Depth: Huawei’s EV Partnership Yields Unexpected Hit
The M7 SUV by Aito, the fruit of a JV with automaker Seres, received over 60,000 orders in its first month, a sign it may pose a threat to car manufacturers down the road
· Caixin China New Economy Index Falls as Investment Shrinks
The gauge that tracks the size of high value-added industries such as biotech dropped to 31 in October from 31.9 the previous month
Residents of the city remember their encounters with the former premier who they say was approachable and devoid of official airs
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This article was generated by Caixin Automation.
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