China’s benchmark Shanghai Composite Index (000001.SH) lost 0.25% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.66%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.93% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.08%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Environmental Technology Firm to Invest $73.6 Million in Baotou Steel Unit
Acquisition of 34% stake in environmental technology operation would be the first major asset revamp deal on the new Beijing bourse
· Caixin Explains: What China’s New Cybersecurity Review Rules Mean for IPOs
Final regulations unveiled Tuesday fueled speculation the authorities may exempt mainland companies seeking to sell stock in Hong Kong from the review procedure
· Update: China Mobile Shares Have Wild First Day in Shanghai
The country’s largest wireless carrier opened nearly 10% higher in its mainland homecoming, but gave back most of the gain by the end of trading
· Dollar Gets More Weight in Key Yuan Exchange-Rate Index
The increase is a sign that trade with the U.S. is making up a greater share of China’s total
· China Launches Digital Yuan App in Pilot Cities Nationwide
The program is now open to users in 12 cities and regions including the hosts of the upcoming Winter Olympic Games, Beijing and Zhangjiakou
· Local Governments Set Price Limits on After-School Tutoring
Chinese cities institute benchmarks for curriculum-based courses, with fees ranging from 40 to 80 yuan per class in Beijing and Shanghai
· Chinese Airlines Dump Fuel Surcharge on Domestic Flights as Prices Fall
Air China, Hainan Airlines and a handful of other carriers announce they have discontinued the fee, just two months after implementing it
· Xi’an Health Official Defends Centralized Quarantine in Face of Public Outcry
Director of the local disease control center says the measure can curb the spread of Covid-19, as some 42,000 residents have been sent to centralized facilities
· China Toughens Covid Testing Rules for U.S. Travelers as Omicron Rages
Flight passengers are required to undergo two rounds of Covid-19 testing during a seven-day period at their city of departure
· China Tightens Grip on Big Tech’s Use of Algorithms
Under new regulations, consumers will be able to block algorithms that Alibaba, Tencent and ByteDance use to target them with content and ads
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