China’s benchmark Shanghai Composite Index (000001.SH) gained 1.01% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 2.13%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.15% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.76%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Debt-Strapped Sunac Divests Shenzhen Ski Resort Stake
State-backed partner Zhuhai Huafa to pay $518 million for Sunac’s 51% stake with proceeds earmarked for debt payment
· Unigroup Seeks Full Control of IT Joint Venture With Hewlett Packard
Multibillion-dollar buyout of H3C would bolster Unigroup’s profits, analysts project
Guizhou province-based Zunyi Road and Bridge reaches a deal with 21 creditor banks including China Citic to postpone repayment of $2.3 billion in borrowings
· China’s Box Office Bombs Despite End of ‘Zero Covid’
‘Avatar’ sequel raked in the most over the New Year break, but cinema takings overall slumped to their lowest since 2016
· Guangzhou Records First Drop in Leased Office Space in a Decade
Contraction signals cooling business activity in China’s southern trading hub triggered by Covid disruption
· Citic Securities Cleared for New Asset Management Unit
Venture paves the way for China’s largest brokerage to join an industry rush tapping into the mutual fund business
· Ant Group’s Lending Unit Gets Approval for $1.5 Billion Capital Boost
The capital expansion is seen as a necessary move for Chongqing Ant Consumer Finance to maintain its lending business
· Year in Review: China’s Property Market at a Turning Point
The government began last year to ease up on a clampdown that upended the industry, but developers won’t be able to rely on the business model of the past
· Tech Insider: GAC Aion’s Premium EV, Huawei’s Flat Revenue
Dongfeng Nissan plans to use Horizon Robotics’ AI chips, CATL supplier lists in Shenzhen
· Out-of-Town Trips Make a New Year’s Comeback in China
About 60% of online travel agency Trip.com’s domestic users journeyed to another province or region during the three-day weekend, up from 40% last year
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This article was generated by Caixin Automation.
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