China’s benchmark Shanghai Composite Index (000001.SH) gained 0.98% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.23%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.35% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.01%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Sunac Further Cuts Stake in Ke Holdings to Raise Funds
Chinese real estate developer sells $530 million of Ke shares, bringing disposals since June 1 to $1.08 billion as it scrapes up cash in the face of pressure on property industry
· PBOC Cuts Rates on Relending Facilities for Small Businesses and Rural Sectors
China’s central bank sets relending rates lower by 25 basis points, in a move to support smaller enterprises amid a slowing economy
· Macao Casinos to Close Lucrative VIP Rooms in Wake of Junket King’s Arrest
Arrest of Alvin Chau Cheok Wa makes local junket and VIP room operators ‘shudder,’ analysts say
· Protecting China’s Biodiversity Requires Preventative Action, Supreme Court Says
Citing seven legal cases, the court says preventative measures are the key to preserving natural resources as damage is often irreversible
· Weibo Posts Loss in Hong Kong Debut Amid Tech Stock Turmoil
The now dual-listed social media giant fell 7.2% in its first day of trading after raising $385 million
· Opinion: After Merkel, Germany's China Policy Won't Change Dramatically
We’ll likely see no dramatic foreign policy swings, but a more independent EU, a former adviser to the leader Joachim Koschnicke writes
· China’s QingCi Games Seeks $153 Million in Hong Kong IPO
Riding success of games that play themselves, Alibaba and Tencent-backed developer has six mobile games in operation and is working on 10 more
· Fosun and BioNTech Are Developing Omicron-Specific Vaccine
Approval of shot targeting new Covid variant may take three to four months, but the public doesn’t ‘need to panic,’ Chinese drugmaker says
· Roundup: Eagerly Watched Politburo Meeting Signals Focus on Stability
As expansion continues to moderate, China economy watchers weigh in on the significant December Politburo meeting
· Rare Disease Patients Will Have to Wait for Affordable Drugs, Experts Say
Some medicines’ recent inclusion in the country’s medical insurance plan doesn’t mean more rare drugs will be available soon, as price talks can drag
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This article was generated by Caixin Automation.
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