China’s benchmark Shanghai Composite Index (000001.SH) lost 0.19% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.34%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.05% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) ended nearly flat.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Tencent and China Unicom Tie Up in New Joint Venture
Social media giant and state telecom operator win antitrust approval for new business in data and cloud-related services
· China Expands Debt Guarantee Program for Property Developers
State-owned China Bond Insurance Co. will back $2.75 billion of borrowings by a dozen real estate companies in government safety net for slumping industry
· Zhongrong International Trust to Sell $367 Million of Bonds in Singapore
Borrowings through private placement are to raise funds to pay off maturing bonds for the unit of Jingwei Textile Machinery
· PBOC Chief Hopes for ‘Soft Landing’ for China’s Housing Market
Central bank Governor Yi Gang’s comments are seen as response to worries about a prolonged real estate crisis that has plagued the world’s second-largest economy
· Covid Lockdowns Stoke Merchant Concerns Ahead of Peak Shopping Season
Logistics disruptions across the country could undermine sales in the annual ‘Double 11’ shopping promotion, one of the biggest money-earners in the retail calendar
· Trending in China: Social Media Users Hail the Return of a Top Chinese Biologist From the U.S.
On Tuesday, Yan Ning announced her decision to leave her tenured position from Princeton University to help launch a medical sciences research institute in Shenzhen
· EV-Maker XPeng Shares Drop as Sales Fall by Half
The stock slipped on news the startup delivered just 5,101 vehicles last month
· Investment in China’s New Economy Sectors Shrinks, Caixin Index Shows
The contribution of high value-added industries such as biotechnology to the country’s total economic inputs slipped in October
· In Depth: Will Fosun’s $2.2 Billion Steel Unit Sale Save the Conglomerate?
Offloading Nangang Iron & Steel may be the beginning of the end, or a fresh start for the debt-laden giant
· Driverless Truck Startup TuSimple Fires CEO
Co-founder Hou Xiaodi ousted as board investigates links with rival Hydron, set up by TuSimple’s other co-founder, Chen Mo
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This article was generated by Caixin Automation.
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