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
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This article was generated by Caixin Automation.
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