China’s benchmark Shanghai Composite Index (000001.SH) gained 0.46% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.75%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.66% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.77%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China’s Property Crisis Contagion Spreads to State-Backed Developers
Recent revelations indicate the crisis, which is stretching into its third year, is now hitting developers whose deep pockets had largely insulated them from the chaos
· China Seeks Feedback From Private Sector on What It Can Do Better
The State Council has launched a platform asking private businesses to share the difficulties they face in bid to bolster confidence and fuel economic recovery
· China Provincial Audit Finds Covid Facilities Left Abandoned, Unusable
Hainan province finds medical facilities and resources worth tens of millions have gone unutilized or left unusable since strict controls were lifted
· Evergrande NEV Shares Plunge 61% as Trading Resumes
Unit of embattled developer gives up $98.7 billion in market value, more than the combined value of Nio, Xpeng and Li Auto
· China Appoints Telecom Boss to Head Newly Created Data Regulator
Liu Liehong leaves China Unicom to become chairman of National Data Bureau, signaling the agency is ready to open for business
· Global Supply Chain Split Would Cost China Tech Spillover Benefits, WTO Deputy Chief Says
World Trade Organization Deputy Director-General Zhang Xiangchen tells Caixin that China must elevate its position in the global value chain amid decoupling fears
· In Depth: The Budding Market for Microscopic Organ Testing
‘Organoid-on-a-chip’ has already been used to evaluate Covid vaccine efficacy in China, but a lack of regulation means the uptake of the niche technology is lagging behind the West
· Tech Insider: Xiaomi’s Bloated Indian Smartphone Line-Up, Volkswagen’s XPeng Stake
Probe clears local government accused of crippling China EV startup, Alibaba Cloud brings Meta’s next-gen AI model to the mainland
· Weekly Must-Read: China Vows to Create a ‘Bigger, Better, and Stronger’ Private Sector
Measures aim to create a more level playing field for private businesses and entrepreneurs amid sluggish economic growth
· China Plugs in National Platform for After-School Tutoring
Ministry of Education site hosts 111,000 tutoring institutions that passed muster on qualifications, capital, personnel and courses
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This article was generated by Caixin Automation.
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