Jan 18, 2023 03:03 PM

Shanghai Composite Index Ended Nearly Flat on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.09%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.31% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.07%.

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

· CATL Cleared for $945 Million Lithium Mining Acquisition

Bankruptcy court accepts battery giant’s proposal to pay off Sinuowei Mining Development’s debt and buy out its investors

· ‘China’s Door to the Outside Will Only Open Wider,’ Vice Premier Liu He Says

Top economic official tells Davos forum that China is committed to an ‘open economy’ and predicts return to normal growth this year

· China’s Emergence From ‘Zero Covid’ May Spur Global Growth

Davos panelists discussing ‘China’s Next Chapter’ project strong rebound of economy turbocharged by consumers will trillions in excess savings

· China’s Real Estate Investments Fall for First Time on Record

Decline of 10% to $1.98 trillion in 2022 is the first drop since official data began in 1999 and reflects China’s protracted property market slump

· Liu He Says China’s Economy Will Get Back to Normal in 2023

Vice premier predicts imports will rise, corporate investment will increase and consumer spending will recover

· Primary Schools Squeezed as ‘Two-Child’ Policy Catches Up With Enrollment

The first cohort of children born after the government ended its ‘one-child’ policy in 2015 is set to enter school this year

· Tech Insider: Didi Resumes Sign-Ups 18 Months After Probe, NEV Exports Hit Record

Tencent fires more than 100 employees over corruption charges, PBOC says Ant Group and 13 other platform companies have completed rectification

· New Bank Aims to Shore Up Chinese Province’s Corruption-Plagued Rural Lenders

Henan Rural Commercial United Bank will take stakes in local rural credit institutions, whose asset quality is worrying

· Shanghai Airport Operator Buys $251 Million Stake in Duty-Free Shops

The acquisition will broaden the firm’s revenue sources to include dividends from CDF-Sunrise’s and Uni-Champion’s businesses

· Five Killed in China Chemical Plant Explosion

Eight people remain missing after the blast at a facility in the northeastern province of Liaoning

Click here to read more of the latest news.

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