China’s benchmark Shanghai Composite Index (000001.SH) lost 1.09% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 1.92%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.95% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.51%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Will Base New Shipbuilding Giant in Shanghai
Combination of China State Shipbuilding and China Shipbuilding Industry moves into substantive operation phase while planning new headquarters
· Energy Insider: China Completes First Underground Hydrogen Storage Well
Shandong vows to reduce greenhouse gas emissions; Aluminum Corp. of China reports profit surge on higher prices; Shunfeng International sells solar power stations
· China Orders Banks to Speed Up Ditching Nonstandard Wealth Management Assets
As a year-end deadline nears for overhauling the $13 trillion asset management industry, institutions face earlier cutoffs for completing certain tasks
· Amid ‘Uneven’ Recovery, PBOC Urges Banks to Lend More
Governor Yi Gang tells some of the country’s biggest lenders that smaller companies need more support and interest rates need to drop
Taliban announce ‘amnesty’ for former Afghan president Ghani, and Chinese epidemiologist Zhang Wenhong cleared of academic fraud
· Analysis: U.S. Vice President’s ‘Softened’ Rhetoric on China in Southeast Asia Is ‘Deceptive’
Kamala Harris says American policy in the region is ‘not against any one country, nor is it designed to make anyone choose between countries’
· Central Bank Mulls Third Application to Form Financial Holding Company
Beijing Financial Holdings Group has stakes in banks, fintech firms and asset managers
· China Moves Closer to Passing Tougher Law on Combating Organized Crime
Second draft of law also includes measures to protect minors from being recruited or used by criminal gangs
· Universal Beijing Resort Expands Trial to Let Competition Winners Take a Spin on Rides
The theme park, slated to launch this spring, has yet to announce a date for its grand opening
· Aluminum Giant Chalco’s Profit Surges as Prices Spike
China’s biggest aluminum producer has reaped the benefits of the economic recovery that has begun to emerge in some parts of the world
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This article was generated by Caixin Automation.
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