China’s benchmark Shanghai Composite Index (000001.SH) gained 1.06% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.99%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.08% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.06%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Vanke Executives to Buy $27.5 Million of Shares to Show Their Faith in Company
Pledge to stabilize investor confidence comes as developer warns of widening losses
· Ride-Hailing Operator Chenqi Drops on Hong Kong Debut
Chenqi shares fall 3.14% below offering price after IPO raises $124 million
· Land Sales Slashed by More Than a Third in First Half of 2024 as Real Estate Slump Bites
Loss of revenue from land auctions has left provinces reliant on central government transfer payments, says report
· Tianqi Warns of $670 Million-Plus Loss Over Lithium Price Plunge
Company blames high lithium inventories, falling prices and lower returns from investments for losses
· Global Investors in Mainland Swap Market Permitted to Use Onshore Bonds as Collateral
Authorities expect move will reduce the cost of trading in China’s derivatives market
· Another Case of Kidnapped Chinese in Philippines Emerges
January kidnapping, which is still unresolved, has many similarities with last month’s deadly incident, including a fake business trip and a cryptocurrency ransom
· China Launches Probe Into Cooking Oil Transportation After Report of Contaminated Tankers
Domestic media story alleges that some companies were hauling the consumer staple in the same containers used to carry chemical oils without cleaning them first
· Tourists Flood Into China on Expanding Visa-Free Scheme
Trips by foreigners to the country jumped 153% to 14.6 million in the first six months of this year, more than half of which were visa-free
· China Explicitly Bans Editing DNA of Human Reproductive Cells
Formal prohibition comes several years after jailing of scientist who altered the genes of twin girls
· Commentary: What the U.S. Election Will Mean for China and the Economy
There are some stark differences between the proposed policies of the two major presidential candidates, with the most significant ones involving tariffs, tax cuts and monetary policy
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This article was generated by Caixin Automation.
