Nov 17, 2022 03:03 PM

Shanghai Composite Index Fell 0.15% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.15% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.13%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.5% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.71%.

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

· Henan City Buys 1,050 Evergrande Flats for Affordable Housing

Purchase by city of Kaifeng aims to expand local subsidized housing supply while bolstering the ailing property market

· China’s 2022 Tax Rebates Almost Double the Past Three Years Combined

Refunds of value-added taxes top $325 billion so far this year as government tries to buck up the slowing economy

· Exclusive: Upstart SPS Shipyard Lands $580 Million Order for 14 Ships

Founder Luan Xiaoming plans to revive shipyard abandoned by bankrupt Rongsheng Heavy Industries, where he was a top executive

· Indonesia IT Minister Plays Up Opportunities in Country’s Digital Transformation

Fewer than one-third of the Southeast Asian nation’s micro, small, and midsize enterprises have undergone digitization

· China Eases Some Restrictions on Travel Agencies’ Cross-Province Services

The tourism ministry abolished the ‘circuit breaker’ system that barred cross-region tours to a destination where any county or district had areas designated ‘middle-risk’ or ‘high-risk’ for Covid

· Discounted Booze Pits Against One of China’s Largest Liquor-Makers

Sichuan-based Luzhou Laojiao accused the e-commerce heavyweight of undermining its pricing power for selling one of its top-shelf brands at a discount

· BYD Parks Chip Unit IPO

The Chinese carmaker says it had to postpone the planned listing because of how an investment in the subsidiary will affect its balance sheet

· Xi Calls for Improved China-Australia Relations at G-20

The relationship between the countries soured in recent years following disputes over trade and the Covid-19 pandemic

· 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

Click here to read more of the latest news.

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