China’s benchmark Shanghai Composite Index (000001.SH) gained 0.17% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.75%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.19% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.14%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· 17 Giant Pandas Came Home Last Year
The once endangered animals returned in 2023 because they had reached the age of sexual maturity or China’s agreement with the countries that borrowed them expired
· Evergrande’s EV Unit Says Share Sale with Dubai Automaker Lapses
Electric vehicle maker loses lifeline to keep it afloat, but negotiations continue in the hope strategic investment can still be salvaged
· China, Thailand Agree on Permanent Visa-Free Travel Starting March
Surge in travelers expected as China and Thailand make temporary visa exemption permanent
· Wanda Offloads More Shopping Malls to Tackle Debt Woes
Four Wanda Plaza complexes were sold to a real estate fund management company in December, which put more than 1.4 billion yuan into the deal
· Year in Review: China’s Real Estate Sector in Crisis
As home sales continued to drop and developers’ liquidity problems grew, policymakers hit the rescue button with a slew of measures to try and kick-start sales and provide funding for cash-strapped developers
· Tech Insider: China’s Cloud Giants Look Overseas, Tencent Exec Cedes Key Role
Mass rollout begins of EVs powered by lithium-ion alternative, Nvidia’s China customers to get hobbled version of gaming chip
· VW’s China Venture Launches Debut EV
Volkswagen Anhui kicks off production of electric Cupra Tavascan SUV for export to Europe, with plans to produce a China market model later this year
· Editorial: A Clear-Eyed Approach to Dealing With AI
We should neither accept blind optimism nor succumb to doomsday predictions about the rapidly developing technology
· Cover Story: Chinese Carmakers Enter 2024 Fighting Price War, Heightened EV Competition
On track for record 2023 sales, China’s auto industry won’t see profitability follow suit
· China Appoints First Naval Officer as Minister of Defense
Admiral Dong Jun, former chief of the People’s Liberation Army Navy, replaces Li Shangfu who was removed from the post two months ago
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This article was generated by Caixin Automation.
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