Jan 17, 2023 03:03 PM

Shanghai Composite Index Fell 0.1% on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.1% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.13%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.11% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.24%.

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

· China’s Population Shrinks for the First Time in Six Decades

The country had 850,000 fewer people at the end of 2022 than it did a year earlier, the National Bureau of Statistics says

· China’s 2022 GDP Grows 3% Amid Covid Disruptions, Second-Slowest Since 1976

Stringent coronavirus control measures put the brakes on economic activity

· Chinese Authorities Seize Fake Paxlovid Anti-Covid Pills

Amid pandemic surge and short supply, counterfeit pills flood booming black market for Pfizer treatment and generics from India

· Ex-New China Life Chairman Has Been Unreachable Since November, Sources Say

Insurance industry veteran Wan Feng could be under investigation for how the company invested its money during his time at the helm

· Construction Resumed on One-Fifth of Stalled Housing Projects by Year End, Survey Finds

Almost four-fifths of residential developments remain idle or have partially restarted despite multiple government initiatives supporting the sector

· Guangdong Racks Up $22 Billion Bill Funding ‘Zero Covid’

Local governments’ coffers bore the brunt of the spending, which included mass testing and vaccination campaigns

· Prisons in China Ease Rules for Visiting Inmates

At least 10 provinces are relaxing their pandemic controls for prisoners to see their relatives and guardians

· China Runs Short of Anti-Immune Deficiency Drug as Covid Panic Buying Clears Shelves

Prices have skyrocketed for intravenous immunoglobulin, which is crucial for treating those with chronic immunodeficiencies, putting their lives at risk

· World Elite Return to Winter Davos as Recession Fears Mount

A looming recession, energy transition, geopolitical risks, and climate change will be at the top of the agenda for this year’s World Economic Forum

· China’s Central Bank Puts to Bed Rumor About List of Quality Developers

Lenders can decide which firms qualify for credit support under a new government plan, a PBOC official says

Click here to read more of the latest news.

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