China’s benchmark Shanghai Composite Index (000001.SH) gained 1.38% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 2.71%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.45% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 3.85%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Hong Kong Mulls Licensing Regime for Stablecoin Issuance
HKMA is seeking public views to help develop a regulatory framework for issuers of cryptocurrencies pegged to existing currencies or commodities
· Ex-Boss of New China Life Receives 6.5-Year Jail Term for Bribery
Ex-chairman of state-owned insurers exploited his position to seek benefits for others in exchange for bribes, court rules
· Year in Review: China’s Outbound Businesses Pivot to Latam, Middle East
The new focus is driven partly by declining consumer demand in established markets such as the U.S. and EU, compounded by rising trade protectionism
· New Railway Line in Southwest China Gets Underway After Quality Concerns Dismissed
Investigation finds claims of substandard support piles on the $5 billion high-speed line to be unfounded
· China Appoints Lu Lei as Deputy Central Bank Governor
Veteran financial regulator to oversee research bureau, currency bureau, among others
· Scandal-Plagued Amethystum Says Controlling Shareholder Detained
Former Chairman Zheng Mu charged with securities fraud in connection with 2020 IPO
· Tech Insider: China Softens Stance on Gaming, More Vivo Executives Detained in India
Nio unveils electric sedan to take Porsche head-on, Micron settles IP lawsuit amid push to repair Beijing ties
· Chinese Solar Major Tongwei Plans $4 Billion Factory as Consolidation Looms
The new facility is designed to produce 500,000 tons of industrial silicon and 400,000 tons of polysilicon each year
· Year in Review: China’s Economy Struggles to Regain Early Momentum
Growth will likely hit policymakers’ target for 2023, but a bumpy recovery sets the stage for slightly more expansionary fiscal and monetary policies in the year ahead
· Opinion: China Will Remain a Critical Market for Multinationals
Despite macroeconomic headwinds and pressure from local competitors, the country will continue to be a priority for MNCs in 2024
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This article was generated by Caixin Automation.
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