China’s benchmark Shanghai Composite Index (000001.SH) lost 0.06% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.06%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.58% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.35%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: U.S. Sanctions Have Been Bad for Huawei, but Worse for Its Chip Design Unit
HiSilicon’s share of the global application processor market for smartphones has been bupkis for four straight quarters since April 2022, analyst report shows
· Opinion: How Can Policymakers Boost Confidence in Private Enterprises?
Beijing vows to back the private sector more, but what support is needed most?
· Former Telecom and Bank Executive Stands Trial for Taking $9 Million in Bribes
Li Guohua entered a guilty plea to charges of bribery and abuse of power
· Local Financial Regulatory Bodies Announce Names Changes in Sweeping Overhaul
Switch affects almost 350 local branches under the now-defunct CBIRC
· China’s NDRC Will Soon Release Detailed Policies to Support Private Sector
Top economic planner says it will tackle issues including unfair competition in market access
· WeChat Lets Users Link Overseas Cards for Everyday Payments in China
Tencent’s ubiquitous platform now allows people from overseas with certain international bank cards to access tens of millions of merchants
· China Powers Up World’s First 16-Megawatt Offshore Wind Turbine
The country created the largest wind farm in operation by single-unit capacity after switching on the machine off the coast of Fujian province
· Why Temasek Is Steering Clear of China’s Generative AI Stock Frenzy for Now
Singapore state-owned investor hasn’t made a single investment in the industry on the mainland stock market, but will keep a close eye on its long-term prospects, China president tells Caixin
· Analysis: Germany’s China Strategy Has Limited Impact on Bilateral Trade and Investment
Berlin hopes to reduce dependence on its largest trading partner in certain key areas such as medical technology and rare earths, but its long-awaited plan has few specifics
· China Raises Overseas Borrowing Cap to Bolster Weakening Yuan
The country allows financial institutions and nonfinancial businesses to have more cross-border financing, in a move to increase the domestic forex supply
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This article was generated by Caixin Automation.
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