China’s benchmark Shanghai Composite Index (000001.SH) lost 0.72% on Monday, while the Shenzhen Component Index (399001.SZ) fell 1.57%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.13% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.81%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China, U.S. Agree to Launch Initiatives on Money Laundering, Economic Growth During Yellen Visit
U.S. treasury secretary has held two days of ‘extensive and productive’ meetings with officials including Vice Premier He Lifeng
· Analysis: China’s Support to Regional Governments Tops 10 Trillion Yuan for Second Year
Sichuan and Henan are biggest recipients of the central government’s redistribution of tax revenue under the ‘transfer payments’ system this year
· Weekend Long Read: Debunking the Genetic Testing Hype
Experts have called for more regulation of a growing industry rife with exaggeration
· U.S. Treasury Secretary Kicks Off China Visit in Guangzhou
Janet Yellen is on a six-day visit that will include meetings with Premier Li Qiang, with addressing Chinese industrial overcapacity a key focus of the trip
· Danish Biotech Giant Genmab to Acquire ProfoundBio for $1.8 Billion
Deal comes amid growing interest in Chinese or Chinese-founded biotech firms among big foreign pharma
· China’s Former Justice Minister Under Graft Probe Into His Ties with Evergrande
Questions were raised about Tang’s oversight responsibilities after he helped Evergrande gain control of Shengjing Bank
· Commentary: How to Break Out of China’s Property Downward Spiral
China needs to provide robust financing support for developers and conduct targeted structural reforms to reshape the property market
· Property Management Firms See Profits Rise as Ties to Debt-Laden Developers Severed
Adjustment of business strategies allows property management companies to earn more than half their income from third parties
· Chinese Tourists May Get Visa Waiver to Visit Saudi Arabia
The kingdom is aiming to boost tourist arrivals from the Chinese mainland to 5 million by 2030 from 100,000 last year
· In Depth: Why China’s Middle Class Is Cutting Back on Private Daycare Centers
Amid the job and income insecurity brought by the lackluster post-pandemic economic recovery, cheaper options are pushing costly private centers out of business
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This article was generated by Caixin Automation.
