Caixin
Oct 25, 2022 03:03 PM
FINANCE

Shanghai Composite Index Ended Nearly Flat on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.51%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.19% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.95%.

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

· State Investor Takes Control of TF Securities

Conglomerate backed by Hubei provincial government in a flurry of transactions becomes controlling shareholder of Shanghai-traded brokerage

· Rule Change Unlocks Billions for Property-Related Companies

Energy China, Fujian Dongbai and Xinjiang International set to raise capital as regulators ease financing curbs

· Zijin Mining Plans $1.4 Billion Bond as It Buys Up Metal Used in Green Transition

The Chinese firm will use some of the proceeds to buy Asia’s largest molybdenum mine

· China’s Currency, Stocks Stumble

The onshore yuan hit its lowest since 2008 on Monday

· A Younger Generation Is Now the Majority in Communist Party’s Elite Body

For the first time, the party’s Central Committee will mostly comprised of cadres who were born in the 1960s. But women make up only 5% of the 205 new members, and ethnic minority officials make up even less — 4%

· Cover Story: Why the Yuan Is Suddenly Gaining International Traction

China’s 13-year campaign for its currency benefits from sanctions on Russia, flight from the dollar and advanced development of digital yuan

· Beijing, Shanghai Party Chiefs Among New Faces Appointed to Top Decision-Making Body

Chief aide to President Xi Jinping and Guangdong party leader also make the cut in new seven-member Politburo Standing Committee

· China Names New Top Party Leadership for Next 5-Year Term

Four new faces join previous Politburo Standing Committee members Xi Jinping, first secretary of the party’s central secretariat Wang Huning and anti-corruption chief Zhao Leji

· World-Leading Chinese Solar Panel Makers Report Surge in Preliminary Earnings

Jinko Solar, the biggest shipper of PV modules, said net profit may have jumped as much as 136% in the first three quarters

· China's New Top Party Leadership to Be Revealed on Sunday, Xinhua Says

The 20th National Party Congress on Saturday elected a new Central Committee and adopted a resolution on amendments to the party constitution

Click here to read more of the latest news.

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