China’s benchmark Shanghai Composite Index (000001.SH) lost 0.65% on Friday, while the Shenzhen Component Index (399001.SZ) fell 1.95%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 3.53% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 3.46%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Services Activity Expands at Fastest Pace in Five Months, Caixin PMI Shows
April sees new business at home and abroad grow at the quickest clip since November
· Leadership Reshuffles Unfold in Chinese Provinces
Five provincial capitals announce appointment or departure of top officials in April as leadership changes roll across the country
· EU-China Investment Deal Up in the Air Amid Heightened Tensions
European officials make conflicting comments on whether accord is on ice following exchange of sanctions related to Uyghur Muslim minority in Xinjiang
· Analysis: Why Alibaba Retreated From New Property Venture
Mounting pressure from China’s stepped-up antitrust enforcement prompted early exit from Tmall Haofang, which was stuck on square one
· Tighter Regulation Urged for How Businesses Use China’s Satellite Positioning System
Market is ‘intermingled with good and bad companies,’ senior BeiDou engineer says
· Son-in-Law of Phoenix Media Boss Detained in Peer-to-Peer Lending Probe
He Xin is being held as part of an investigation into an online lending platform he controlled, police in Hainan province said
· China’s Most Popular Podcast Platform Files for U.S. Listing
Tencent-backed Ximalaya bets investors will buy into growth story despite string of losses
· Express Delivery Giants Struggle to Stem Losses as Price War Intensifies
With razor-thin margins, China’s delivery companies reported hundreds of millions of yuan in losses, even as their volumes grew significantly during the pandemic
· China Box Office Tops Pre-Pandemic Levels During Labor Day Holiday
Ticket sales over the five-day period rose 9.36% from 2019 to reach 1.67 billion yuan
· Opinion: Tackling China’s Hidden Local Government Debt Needs More Than Short-Term Solutions
Institutional reform, more efficient investment and increased transparency are needed to improve the ecology of government investment and financing
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This article was generated by Caixin Automation.
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