China’s benchmark Shanghai Composite Index (000001.SH) gained 2.88% on Friday, while the Shenzhen Component Index (399001.SZ) rose 6.71%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 6.76% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 10.0%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: What Noodles Tell Us About China’s Consumption Downgrading
The public’s daily spending habits reveal a broad trend of trading down, driven by falling housing prices and stock indexes
· China Cuts Policy Rate and Bank Reserves to Boost Economy
The RRR cut injects some $143 billion in long-term liquidity into the financial market
· China Launches Anti-Discrimination Probe After Canada Raises Tariffs
New Canadian trade measures target Chinese EVs, metals, chips and solar products
· Uber to Partner With China’s WeRide for Autonomous Vehicles, Beginning in UAE
Starting later this year in Abu Dhabi, clients can hail self-driving taxis through Uber’s App
· Commentary: Unusual Politburo Meeting Outlines Measures to Supercharge Growth
China’s leaders move fixing the economy up to the agenda for September session
· Asia New Vision Forum: Fresh Stimulus Package ‘Great News’ for Startups, VC Investor Says
Late-stage startups that have been in limbo due to tighter IPO rules can expect a return of capital, buoyed by Beijing’s latest efforts to boost the economy
· Asia New Vision Forum: China-U.S. Ties Should Be ‘Managed Strategic Competition,’ Rudd Says
Guardrails and more open lines of communication between the militaries of the two countries could cut the risk of ‘war by accident,’ Australia’s ambassador to U.S. says
· Briefing: Politburo Addresses China’s Economic Challenges
Air China’s parent stretches its wings into the overseas air cargo business, Shanghai plans to hand out 500 million yuan in coupons to encourage residents to pry open their wallets
· China’s $1.56 Billion Consumer Subsidies See Surge in Sales of Cars and Household Goods
Passenger car sales rise 10.8% in August as customers take advantage of trade-in subsidies
· TikTok Music Comes to the End of the Track in Strategy Shift
Music streaming service unplugged as TikTok seeks partnerships with online giants
Click here to read more of the latest news.
This article was generated by Caixin Automation.
