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Shanghai Composite Index Fell 0.44% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.44% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.13%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.52% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.48%.

Below is a rundown of the top China business and finance stories, plus other news for the day:

· China Appoints New Taiwan Affairs Office Head

Seasoned diplomat Song Tao’s responsibilities include formulating policies on the island, coordinating related legal affairs, and managing cross-strait business and cultural affairs

· New Coal-Fired Electricity Plant Approvals Triple From 2021

In first 11 months this year, authorities clear 65 million kilowatts of coal-burning capacity, threatening to undermine climate goals, study finds

· China Drops Covid Curbs on International Flights

Civil aviation regulator confirms government plan to scrap all pandemic limits as of Jan. 8, including quarantines, testing and capacity caps

· Shanghai’s Maternity Hospitals Struggle to Isolate Covid Patients

An influx of patients and staff shortages have exacerbated cross-infection and childbearing risks

· Interview: Yao Ming’s Vision for China’s National Basketball Team

The newly reelected CBA president says plans to boost the squad’s competitiveness will revolve around goals set for the 2024 Paris Olympics

· IQiyi Extends Reality With New XR Headset

The first of a new product line, the headgear incorporates elements of augmented, virtual, and other manners of reality

· China’s Iron and Steel Producers Hit by Property Slump

Profits of ferrous metal smelting and pressing companies plummet 94.5% to $3.3 billion for the first 11 months of 2022

· With Vacancies Rising, Rents Are Falling for Beijing’s Premium Office Space

The vacancy rate for Grade A commercial real estate rose 1.4 percentage point to 16% in the fourth quarter from the previous three-month period

· China to Drop Outbound Travel Restrictions With End of ‘Zero Covid’

Beijing will resume processing passport applications and issuing Hong Kong visas in January, when it will downgrade Covid-19’s infectious disease classification

· China Sets New Risk Rating System for Foreign Bank Operations

Upgraded rules for assessing risk management and capital requirements take immediate effect, regulator says

Click here to read more of the latest news.

This article was generated by Caixin Automation.

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