China’s benchmark Shanghai Composite Index (000001.SH) gained 0.74% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.81%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.14% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 3.44%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Li Auto Aims to Sell 30,000 Cars in June
Founder and CEO Li Xiang vows to set a monthly sales record after a 146% jump in May deliveries, reflecting the company’s response to stiff competition
· Saudi Arabia Wants More Chinese Investment
The kingdom has a young and growing population and is offering attractive tax breaks to lure foreign capital, Deputy Investment Minister Saleh Khabti tells Caixin
· China Ramps Up Approvals of Developers’ Share Sales
Regulators double down on support for sector, clearing $5.59 billion of private placements by six developers including Poly Real Estate and CCCG
· Update: Blinken Heads to China on Mission to Stabilize Ties
American secretary of state plans meetings June 18–19 in Beijing as world’s two biggest economies seek to de-escalate tensions
· Guangzhou to Offer REIT Shares in Subway’s ‘Hell Line 3’
Selling equity in its busiest, $699 million subway line will help the Greater Bay Area city pay the multibillion-dollar tab for 11 other subway lines
· In Depth: How China Is Tightening Controls Over Cross-Border Data Transfers
Regulators are struggling to strike a balance between enhancing data security and promoting data-driven economic growth, expert says
· Opinion: What to Watch for Amid China’s Economic Recovery
Leading companies in traditional industries will benefit from the Belt and Road Initiative, as well as the country’s effort to build a unified domestic market
· Britain’s Prudential Opens Macao’s Second Life Insurance Operation in 20 Years
New branch office reflects expansion of Macao as an insurance alternative to Hong Kong for mainland Chinese customers
· More Commercial Lenders Slash Rates Paid on Deposits
Move by 11 of 12 mid-sized banks matches reductions last week by state-owned giants as authorities push for cheaper loans while defending bank profits
· PBOC Cuts Short-Term Rates for Banks in Further Sign of Easing
Reduction in monetary policy tool follows a cut in another key lending rate and may signal more central bank action to bolster the economy
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This article was generated by Caixin Automation.
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