China’s benchmark Shanghai Composite Index (000001.SH) gained 0.59% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.15%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.14% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.23%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Evergrande Warns of 40% First-Half Profit Plunge
Core property business recorded its first loss as real estate prices dropped, and the new-energy vehicle unit went deep into the red
· Hong Kong Cooking Platform DayDayCook Seeks U.S. IPO in SPAC Deal
Alibaba-backed seller of ready-to-cook food to get $46.9 million in deal that values the enterprise at $300 million
· Huawei’s Auto Drive Could Sputter Amid Concerns Over Smart Car Tie-Ups
Industry experts question telecoms giant’s partnership model with domestic carmakers
· Private Equity Giant Hillhouse Launches New Fund Business to Invest in Stock Market
Shanghai Lingren Private Fund Management Partnership can manage up to 500 million yuan in assets including listed companies’ stocks and publicly traded bonds
· Analysis: How Should China Adjust Its Energy Mix to Meet Carbon Reduction Goals?
The key is ending ‘campaign-style carbon emission reduction’ and looking to long-term solutions
· ‘Robbing The Rich’ Is Not Part of China’s Plan for ‘Common Prosperity,’ Official Says
Push for the latest Chinese government buzzword still allows people to ‘get rich first’ and then help others, Han Wenxiu says
· In Depth: Plight of China’s Gig Workers Poses Policymaking Dilemma
The government is walking a fine line between improving working conditions while minimizing the impact of added costs on an industry that employs millions
· China’s U.N. Envoy Asks WHO to Investigate U.S. Labs on Covid Origin-Tracing
Rejecting the Wuhan lab leak theory, Chen Xi pushes for facilities at Fort Detrick and the University of North Carolina to be subject to a transparent investigation
WHO head calls for two-month moratorium on Covid booster shots, 100 million parcels delivered to China’s countryside daily
· Ant Group’s Mutual Fund Platform Reports Sixfold Jump in Profit
Ant (Hangzhou) Funds Sales turned a $50 million profit in the first half
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This article was generated by Caixin Automation.
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