Shanghai Composite Index Rose 0.9% on Thursday
Below is a rundown of the top China business and finance stories, plus other news for the day:
Purchasing Managers’ Index rose to 50 in September, the second-lowest reading in 17 months as an electricity supply squeeze and rising raw material prices dampened factory production
Chinese EV battery giant boosts access to high-grade lithium supplies through purchase of Canada’s Millennial Lithium Corp.; CATL outbids archrival Ganfeng Lithium
Regulators ask financial firms and local governments to support stability and protect consumers; regulators reaffirm commitment to prudent policy and to prevent speculation
Wei Sun Christianson, Morgan Stanley China CEO since 2006 and its Asia-Pacific co-chief executive since 2011, steps down; played key role in developing the bank’s China business
London and Tokyo also in the running to be the headquarters for the entity that will set benchmarks for climate-related disclosures
The electric-car maker is scrambling to find new investors as funds to mass produce its first Hengchi model dry up
The struggling developer plans to use proceeds to repay debt owed to Shengjing Bank
Sinofert and Qinghai Salt Lake wrapped on the knuckles to the tune of 4.2 million yuan as prices of crop nutrients skyrocket
A $1.9 billion program to remove the two companies’ equipment from rural telecoms networks is set to start next month
Stalwart investor Chinese Estates unloads shares of world’s most indebted property developer as its tumbling stock price drive losses into the billions
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