China’s benchmark Shanghai Composite Index (000001.SH) gained 0.14% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.38%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.72% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.31%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China Renews Affordable Housing Push to Ease Crunch
Government plan to promote construction must battle real estate slump
· China’s Top Court Building Case Database to Ensure Law Is Applied Consistently
Legal cases deemed to be a valuable reference will be included on the database, which will be accessible to the public, said the Supreme People’s Court
· China Drafts Rules to Tighten Limits on Monetization for Online Games
Proposed caps on how much players can top up their accounts for in-game spending and alerts for ‘irrational consumption behaviors’ sent shares in Tencent and NetEase tumbling
· Book Review: Hu Shuli Retraces Her Forebearers’ Wartime Footsteps in Indonesia
A Wartime Escape’ tells the story of group of Chinese intellectuals who fled from Singapore to Indonesia, where they lived in secret under Japanese occupation
· Hangzhou To Gradually Lift Restrictions on Fossil Fuel-powered Car Licenses
Hangzhou city to ease license lottery restrictions to make it easier for people to buy a new car and boost consumption in the process
· Tesla Acquires Land to Build Megapack Battery Plant in Shanghai
Work on the new Tesla China’s Megapack factory is due to start in the first quarter of 2024 with battery production starting in the fourth quarter
· In Depth: TikTok’s High-Stakes American E-Commerce Gambit
Effort to leverage U.S. user base for online retailing appears to be gaining traction for the hottest season within the world’s biggest consumer market
· Tech Insider: East Buy Livestreamer’s Fan Boycott, China’s Latest Gaming Curbs
Beijing bans export of rare-earth processing tech, Alibaba boss Eddie Wu named CEO of e-commerce unit
· Ex-Provincial Adviser Pleads Guilty to Taking Tens of Millions in Bribes
Yi Pengfei, former vice chairman of Hunan‘s political consultative conference, abused his power for almost 20 years, costing the province nearly $63 million in public assets
· Weekly Must-Read: China May Find Cure for Stagflation by Studying Japan’s Experience
As Japanese economy rises from slump, China’s woes look familiar
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This article was generated by Caixin Automation.
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