Shanghai Composite Index Fell 0.33% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.33% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.86%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.84% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.86%.

Below is a rundown of the top China business and finance stories, plus other news for the day:

· Soho China’s Founding Billionaire Couple Step Down From Top Management

Pan Shiyi and Zhang Xin hand over the office builder’s reins to a pair of vice presidents as they focus on arts and philanthropy

· Evergrande Exits Shengjing Bank in $1.05 Billion Forced Sale

Funds from auctioning off 14.57% stake go to pay off debt and bring down the curtain on a controversial investment

· Honda Sets Up New Venture to Procure Batteries From CATL

EV-making partners Dongfeng Motor and Guangzhou Automotive will be co-owners as the Japanese auto giant organizes its global battery supplies

· HKEX Mulls Speeding Up Reviews for Homecoming Listings

Chinese companies threatened with being kicked out of the U.S. represent an opportunity for Hong Kong, exchange’s chairwoman says

· Debate Rages After Residents Barred From Earthquake Evacuation Due to Covid Curbs

The right to life must come first, even if pandemic prevention rules are broken, a legal expert tells Caixin

· Xi Tells Nation to Mobilize for ‘Core Technology’ Breakthrough

President calls for better collaboration between government, society and the market, while strengthening China’s power in science and technology

· Reneging on Job Offers Underscores Sea’s Retrenchment

Several new hires from China say the Singaporean conglomerate canceled their contracts soon after they landed in the Southeast Asian country

· Asia’s Largest Reinsurer to Get New Chairman

China Reinsurance President He Chunlei will replace Yuan Linjiang, who is expected to move to China’s sovereign wealth fund

· Guangzhou Auto’s EV Unit Completes Ownership Overhaul

GAC Aion lines up undisclosed strategic investors to clear the way for a public share sale next year in Shanghai or Shenzhen

· Distressed R&F Dumps Beijing Hotel at a Loss

Transaction raises $79 million for the cash-strapped developer to apply to its looming $12 billion of debt coming due within a year

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This article was generated by Caixin Automation.

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