China’s benchmark Shanghai Composite Index (000001.SH) gained 1.42% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.47%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.34% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.26%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China Emerges as Powerbroker on Global Diplomatic Stage
Xi Jinping follows up Saudi-Iran peace deal by meeting with European leaders to discuss an end to Ukraine war
· China Calls for ‘Fair Burden Sharing’ to Address Poor Countries’ Sovereign Debt Issues
PBOC Governor Yi Gang urges private-sector creditors to participate in a comparable manner, and multilateral development banks to contribute such as by providing sufficient grants
· Brazilian Leader’s State Visit to China Yields Promises of Greater Cooperation
The two countries also signed agreements on trade, the digital economy, scientific innovation, poverty alleviation and space, while promising to work more closely together on climate change
· China Has Only a Fraction of the U.S.’ Top AI Research Talent
The Asian country had 232 of the world’s best researchers in the field last year, compared with America’s more than 1,100, a recent report shows
· Weekend Long Read: How to Get Chinese Brokerages in Hong Kong Growing Again
These securities firms need to better manage their risks and liquidity, and take advantage of synergies with their parent companies to recover from a dismal couple of years
· China Caps 2023 Steel Production at 2022 Level
Policymakers aim to manage post-pandemic recovery, control oversupply and meet decarbonization targets
· PBOC Chief and Fed Chair Hold First In-Person Meeting Since 2019
Central bank Governor Yi Gang also confers in Washington with G-20 officials and Bank of Japan chief amid World Bank and IMF meetings
· In Depth: Why China’s Chip Industry Still Holds Sway Despite Export Curbs
Semiconductor tech powerhouses are trying to stymie the country’s access to advanced technology, but it still has room to maneuver as the world’s largest chip market
· Tech Insider: Alibaba Joins ChatGPT Fray, Didi Unveils Driverless Concept Car
Faraday delays delivery of its first model yet again, lidar-maker Hesai sued for patent infringement
· Weekly Must-Read: China’s EV Battery Boom Goes Bust
The rush to build up capacity as vehicle sales surged over the last few years has led to an overhang that resulted in production and job cuts, as well as falling prices
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This article was generated by Caixin Automation.
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