China’s benchmark Shanghai Composite Index (000001.SH) gained 0.72% on Monday, while the Shenzhen Component Index (399001.SZ) rose 1.14%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) ended nearly flat for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.1%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China’s Hunt for Strategic New Energy Minerals
Pursuit of key minerals intensifies as U.S., Canada and Australia restrict Chinese access to “strategic” materials.
· South Korea Ends Visa Suspension Early for Travelers From China
Drop in China Covid cases ends 40-day suspension of short-term visas that was supposed to last until end of the month
· China Issues New Rules For Related-Party Transactions of FHCs
The central bank requires financial holding companies to set upper limits for transactions and assign accountability as it seeks to curb risk
· Weekend Long Read: How China’s Individually Owned Businesses Were Dealt a ‘Knockout’ Blow
Popular TV drama ‘The Knockout’ shows why the self-employed business people who once helped jumpstart the world’s second-largest economy have largely disappeared
· Developer Seazen Loses Contact With Co-President Qu Dejun
Executive who hasn’t been seen in public since Jan. 16 is said to be cooperating with authorities probing matters related to his career at Wanda Group
· China’s Localities Spent Hundreds of Billions of Yuan on Pandemic
Government budgets outline 2022 cost of Covid fight — $10.5 billion in Guangdong, $6.4 billion in Zhejiang and $4.4 billion in Beijing
· MSCI Adds 17 and Drops 13 China Stocks From Two Indexes
Haichang Ocean Park falls 10% in Hong Kong on news it will fall out; additions include Hainan Airlines, Hainan Airport and Offcn Education Tech
· Warren Buffett Pares BYD Stake Again in HK$1.1 Billion Sale
Berkshire Hathaway, the billionaire’s investment firm, sold 4.2 million shares of the Chinese EV giant on Feb. 3, bringing the total offloaded since July to about $2.7 billion
· Tech Insider: Huawei Suspends Auto Unit Exec, AI Firms Deny ChatGPT Links
WM Motor dealers stymied by supply chain disruptions, regulator warns of risks from NFT and metaverse investments
· China Retirees Dispute Deep Cuts to Health Insurance Benefits
Seniors in Wuhan are the latest to vent their dissatisfaction with basic pension cutbacks as China overhauls its medical insurance system
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This article was generated by Caixin Automation.
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