Caixin
Nov 22, 2022 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.13% on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.13% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 1.18%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.42% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.83%.

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

· Opinion: China Needs to Break the Stalemate on Smarter Covid Control

State Council’s 20-point plan to make pandemic prevention more scientific runs into doubt and fear among local authorities carrying it out

· Exclusive: STX Dalian Shipyard Resumes Operation After Hengli Takeover

Idled since 2015, shipbuilding site emerges from bankruptcy as conglomerate Hengli moves to expand its shipping fleet

· Central Bank Plans New Lending Tool to Support Embattled Developers

Addition of $28 billion at zero cost is intended to encourage 18 big banks to issue credit to builders with stalled residential projects

· Canada’s Manulife Approved to Take Full Control of Its China Mutual Fund Venture

The insurance giant will follow in the footsteps of BlackRock, Fidelity, and Neuberger Berman in running a wholly foreign-owned mutual fund business

· Pony.ai Turns to Assisted Driving as Fully Autonomous Tech Hits Barriers

The startup seeks new revenue streams as its core business faces safety and cost roadblocks

· Chinese City Reverses Covid Control Easing as Case Count Surges

The restrictions, including keeping its 11 million residents at home for five days, were imposed just a week after Hebei’s provincial capital Shijiazhuang had abolished regular testing

· Two Former Top Men at Beijing Trust Firm Hit With Graft Probes

A former chairman and an ex-general manager of Beijing International Trust are under investigation in cases that sources say could be linked to a fallen local official

· Cover Story: China’s Halting Steps to Dial Back ‘Zero Covid’

As central authorities cite scientific evidence for easing travel and testing rules, local officials worry about being held accountable for new outbreaks

· Caixin Summit: China Should Set GDP Target of No Less Than 5% for 2023, Top State Economist Says

Liu Shijin, a member of the top political consultative body, said momentum was building for a turnaround next year after a slowdown in 2022

· Flights to China Still Lag Demand Despite Easing of Some Covid Restrictions, Sources Say

Tickets from hubs like Singapore and Bangkok remain hard to get and expensive, dashing hopes of a quick resumption of inbound travel

Click here to read more of the latest news.

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