China’s benchmark Shanghai Composite Index (000001.SH) gained 1.64% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 2.14%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.85% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.38%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Top Rare Earth Mining Company and Top Refiner Fight Over Prices
Amid soaring demand, Baotou Steel Union wants to jack up prices to processor Northern Rare Earth, but the buyer’s shareholders nixed a deal twice
· China Regulators Roll Out Property Rescue for Embattled Developers
PBOC and banking watchdog release 16-point financial plan to help real estate companies secure financing to finish construction projects
· Exclusive: Agricultural Bank of China to Name Fu Wanjun as President
The 54-year-old will replace Zhang Qingsong, who was appointed a central bank deputy governor in September
· Update: Xi Calls for China-U.S. Relations to Return to ‘Right Course’
China’s leader calls for a new path forward in the first meeting between the two leaders since Biden took office in 2021
· Hong Kong Crypto Firm Says Deposits at Risk After FTX Meltdown
New Huo Tech has around $18 million of digital currency assets deposited with the embattled crypto exchange
· China’s Silk Road Fund Signs Deal to Invest in Two Indonesian Drugmakers
The SRF and Indonesia’s sovereign wealth fund have agreed to jointly take a 40% stake in a PT Kimia Farma Tbk. subsidiary for around $120 million
· China Appoints Youngest Provincial Party Chief in Fujian
Zhou Zuyi, minister of human resources and social security, takes over from newly appointed Politburo member Yin Li
· Former Provincial Party Chief Takes Over as Beijing’s New Boss
Yin Li, the ex-party chief of Fujian, has replaced Cai Qi, who has been elevated to become one of the seven members of the party’s top decision-making body
· Cover Story: Will Europe Pour More Money Into China?
As dramatic geopolitical changes alter the calculus, foreign investment from Europe more than doubles this year after three years of decline
· Exclusive: Former China Guangfa Bank Chairman Detained
Authorities from the northeastern province of Liaoning detained the 61-year-old in Beijing on Sept. 20, sources say
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This article was generated by Caixin Automation.
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