China’s benchmark Shanghai Composite Index (000001.SH) lost 0.22% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.16%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.34% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.21%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· WeChat Steps Up E-Commerce Push on Short Video Platform
Tencent’s super app sees new profits in Channels’ 813 million users as it races against a similar drive by ByteDance’s Douyin
· China ‘Is Open’ to a Visit by U.S. Commerce Secretary
Ministry of Commerce cites importance of dialogue in response to comment by Gina Raimondo in an interview
· China’s Financial Shake-Up Shows Policymakers’ Growing Focus on Stability, Risk
New regulatory system indicates shift to a ‘twin peaks’ model similar to those adopted by major developed economies, analysts say
· Honda and Nissan’s Chinese Partner Slashes Car Prices to Jump-Start Sales
Dongfeng Motor hopes the cuts in its home province will put it back on a growth track, after sales fell 11% last year
· In Depth: Where China’s Insurers See a Booming Business, Regulators See Risks
Authorities have become increasingly concerned about the risks of policies linked to guaranteed residency in high-end retirement communities and new rules could force some insurers to suspend sales
· China Home Prices Stabilize After Falling for Seven Months
The average price of new homes in 100 major cities remained unchanged last month from January
· New Leader Takes Over as Chief of Staff of China’s Military Command
Liu Zhenli attends meeting as head of the Joint Staff Department of the Central Military Commission, state media reports
· Xiaomi-Backed Fund Raises Nearly $1.4 Billion for Chip Investment
Billionaire Xiaomi founder Lei Jun pushes Xiaomi Zhizao fund closer to its target for supporting advanced technologies
· China’s Auto Exports Surge 43.2% in First Two Months
New-energy vehicles lead a $13.91 billion charge as BYD, SAIC and Nio step up efforts in foreign markets, notably Western Europe and Southeast Asia
· China to Create New Top Regulator to Manage Data Resources
National Data Bureau will be responsible for advancing China’s digital economy, which accounts for more than 17% of GDP
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This article was generated by Caixin Automation.
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