China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.36%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.07% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.58%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Appoints New Leadership for Missile Force
Navy’s Wang Houbin named head of Rocket Force, and Xu Xisheng takes over as political commissar
· Two People Killed as Extreme Downpours Swamp Beijing
Remnants of Typhoon Doksuri lash northern China, forcing tens of thousand to evacuate amid widespread flooding
· China’s Biggest Cities Expected to Ease Housing Policies
To break the national real estate logjam, Shanghai, Beijing, Shenzhen and Guangzhou need to relax purchasing restrictions, research institute argues
· China and France Make Progress on Financial Cooperation
Vice Premier He Lifeng and French Finance Minister Bruno Le Maire jointly host China-France economic and finance dialogue in Beijing
· Disgraced Shenzhen Judge Took More Than $2 Million in Bribes
Yao Hui, sentenced to 15 years for bribery this year, was paid mostly by local lawyers to influence court cases, a document obtained by Caixin shows
· Renault Directors Bail on Struggling China Venture
All four directors representing the French carmaker have left the board of its JV Jiangling Group Electric Vehicle, which is straining under a liquidity crisis and slow sales
· Citadel Securities Hires Former BlackRock Exec to Lead China Business
Tony Tang, also previously a deputy director of the international affairs department at China’s top securities watchdog, will begin his new role in September
· Huawei Bucks Trend of Plunging China Smartphone Sales
The brand saw a 76% increase in shipments in the domestic market, the only major local name to log growth during the second quarter
· BYD Hires 30,000 College Graduates So Far This Year, Sources Say
Around 80% of the new recruits will fill R&D positions at China’s best-selling car brand
· Cover Story: China’s Property Crisis Contagion Spreads to State-Backed Developers
Recent revelations indicate the crisis, which is stretching into its third year, is now hitting developers whose deep pockets had largely insulated them from the chaos
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This article was generated by Caixin Automation.
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