China’s benchmark Shanghai Composite Index (000001.SH) lost 0.26% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.22%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.72% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.06%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Q&A: Legal Actions are Needed to Safeguard Private Economy
Legal expert makes the case for a Private Economy Protection Law to ensure the rights of entrepreneurs and remove contradictions that hinder economic growth
· Faraday Future Sues Former Executive Over Alleged Trade Secret Infringement
California EV startup founded by disgraced tech founder Jia Yueting is seeking monetary damage over infringements related to its sole model, the FF91 SUV
· Belle Fashion Refiles for Hong Kong IPO After Turning Business Around
China’s biggest fashion footwear company gets ready to return to the stock market after posting its highest net profit margin in nearly three years
· Hotpot Restaurant Chain Haidilao Serves Up a Franchise Model
Restaurant chain seeks rapid expansion through franchisees while keeping a tight control on food safety and quality control
· China to Set 2024 GDP Growth Target at ‘Around 5%,’ Analysts Say
Market consensus on the projection is mounting ahead of the announcement of the official goal by Premier Li Qiang on Tuesday
· China’s Top Legislature Kicks Off Annual Meetings Down by Two Dozen
Twenty-four of the roughly 3,000 delegates to the National People’s Congress have had their membership revoked over the past year
· Commentary: How to Break China’s Excessive Dependence on Land Revenues
Last year, revenue from land sales fell 13.2% nationwide, exacerbating financial pressure on the country’s already cash-strapped local governments
· Commentary: Can Regulators Reverse China’s Market Slump?
History shows that government measures, however strong, cannot alter long-term trends in the stock market
· China’s Premier Will Not Hold Press Conference After ‘Two Sessions’ This Year
Li Qiang will also skip meetings with journalists after the annual political gatherings for the remainder of the current NPC session, which ends in 2028
· Commentary: Top Trends of Responsible Investment in China in 2024
The Central Financial Work Conference proposed improvement in five major areas: fintech, green finance, inclusive finance, pension finance and digital finance
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This article was generated by Caixin Automation.
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