China’s benchmark Shanghai Composite Index (000001.SH) gained 1.28% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.29%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.09% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.16%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Embattled Developer R&F Offloads London Project for Debt Relief
R&F Properties to sell London development project for $13 cents to trim its growing debts by $800 million
· Banks Hand out Lifelines to Whitelisted Property Projects
$2.5 billion loans extended to 83 real estate developments handpicked by local authorities to help revive housing market
· China’s Finance Ministry Official Wang Kebing Appointed as Vice President of Policy Bank
CBD appointment comes after corruption scandal saw several high-ranking officials sent to prison for taking bribes
· China Looks to Better Protect Arable Land to Ensure Food Security
New guidance from the country’s top government and party bodies calls for refining the system that determines when agricultural land can be used for construction
· Opinion: SEC’s Approval of Spot Bitcoin ETFs Is Nothing Short of Monumental
The change has the potential to increase the cryptocurrency’s market liquidity, make price discovery more transparent, and attract greater participation from institutional investors
· China Names New Chief of Securities Watchdog Amid Stock Slump
Financial veteran Wu Qing has replaced Yi Huiman at the helm of the China Securities Regulatory Commission
· CSRC Vows to Crack Down on Malicious Short Selling to Stabilize Stock Market
Those who dare to flout the law will ‘lose their shirts and rot in jail’, warns regulator in moves to curb market manipulation
· Chinese Stock Brokerages Reports Strong 2023 Profits Despite Market Slump
Investment gains and growth in investment banking saw 17 companies increase profits from 2022, while seven said profits had at least doubled
· In Depth: China Set for Interest Rate Cuts to Support Economy
Analysts expect the PBOC to lower borrowing costs in the first or second quarter as a shift in U.S. monetary policy gives it more room to maneuver
· China Approves Mercedes and BMW Charging Network Venture
Joint venture between two of the German automakers’ subsidiaries aims ‘to provide Chinese customers with premium charging services’
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This article was generated by Caixin Automation.
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