China’s benchmark Shanghai Composite Index (000001.SH) lost 0.08% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.36%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.97% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.64%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Tesla Increases Price of Model Y in China in Sign That Price War Is Easing
Tesla is raising the price of its Model Y is China by nearly $700 while cutting back on extras offered to Chinese customers
· Cause of Deadly Crash Flight MU5735 Still a Mystery Two Years On
CAAC report says aircraft and crew met all requirements and analysis of damaged black boxes continues
· Hong Kong’s Strategic Enterprise Attraction Plan Secures 19 Additional High-Tech Companies
Some 49 technology sector companies are opening offices in Hong Kong bringing an expected $5 billion in investment and 13,000 jobs, Chief Executive says
· China Launches Platform to Quickly Solve Financial Consumer Complaints
New platform that allows financial consumers to complain or seek mediation directly with banks and insurance companies received 60,000 on its first day
· In Depth: Local Governments Struggle to Tackle Mountain of Hidden Debt
Progress has been slow as many authorities experience difficulties in refinancing the borrowings of their financing vehicles and banks worry about potential bad debts
· Xiaomi Builds In-House Sales Network for First Electric Car
In addition to dealerships, the SU7 will be sold in company-run delivery centers incorporating showrooms and retail stores repurposed to display the cars alongside other products
· China’s Central Bank Adds New Monetary Policy Advisers
People’s Bank of China has updated its 14-member Monetary Policy Committee with four new names, including securities watchdog chief Wu Qing
· China Graft Busters Launch Probes Into Regional Officials Linked to Debt Dispute
The two officials from Liupanshui, Guizhou province, are believed to be tied to a controversy involving a contractor who was arrested after demanding the local government pay her the money it owed
· Ant Makes International Business Independent in Major Revamp
Chairman says reshuffle aims to promote Ant’s major strategies to advance in artificial intelligence, payment business and international expansion
· Chinese Banks Launch Innovative Loans Backed by Data Assets
A fresh chapter in the digital economy dawns as the value assigned to the vast quantities of data companies produce is used as the basis for a new type of bank loan
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This article was generated by Caixin Automation.
