Caixin
Nov 16, 2022 03:03 PM
FINANCE

Shanghai Composite Index Fell 0.45% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.45% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.02%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.48% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.19%.

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

· Embattled Online Grocery Missfresh Faces Debt Claims in 1,400 Lawsuits

Former employers and suppliers demand $115 million, and the company has only 55 employees left, according to belated 2021 annual report

· Country Garden Plans $494 Million Share Placement

Chinese property giant takes advantage of stock rally to sell Hong Kong shares for repayment of offshore debts

· China’s SOEs Grew Almost Twice as Fast as Economy in 2021

Government turns to state-owned enterprises as economic engine of last resort in the face of pandemic pressures

· China’s October Home Sales Drop Again

Amid Covid outbreaks, slowing economy and property developer liquidity crisis, homebuyers stay on the sidelines, driving sales down 28.2% this year

· State Clearing House Sets Standards for China’s $200 Billion Green Bond Market

The new system offers instructions on disclosing information about projects and their environmental benefits

· In Depth: The Secrets Behind a Chinese Banking Superstar’s Fall

The unmaking of former China Merchants Bank chief Tian Huiyu may be rooted in his equity investments in electric-vehicle battery giant CATL

· Teaching Staff Who Harm Children Face Lifetime Ban

The guideline, which takes effect Tuesday, comes as the country steps up efforts to protect minors in education

· Xi Raises Anti-Secession Law in Talks With Biden About Taiwan, Foreign Minister Says

The 2005 law allows China to take ‘non-peaceful means and other necessary measures’ to safeguard its territorial integrity if events including secession occur

· Food and Drink Fair Fizzles as Covid-19 Keeps Crowds Away

Many merchants were delayed or restricted from traveling to Chengdu for the largest exhibition on the food and beverage industry’s calendar

· Tech Insider: ‘Double 11’ Sales Kept Secret, Xiaomi Smartphones Stay on Top in India

TuSimple ousts CEO and independent directors, Alibaba logistics unit pushes deeper into Brazil

Click here to read more of the latest news.

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