Caixin
Jan 19, 2023 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.49% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.49% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.87%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.68% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.08%.

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

· Xiaomi-Backed Hesai Technology Files for U.S. IPO

Shanghai-based startup aims to become the first publicly traded Chinese maker of lidar sensors for advanced driver-assistance systems

· China-U.S. Ties Are More Robust Than People Think, Bloomberg Chief Says

Peter Grauer, head of financial information giant, says the world’s two largest economies need to collaborate and overcome their differences

· In Depth: Lithium Tops Out

Supply of the key raw material for electric car batteries looks set to catch up with demand, as a flood of investment into mining the metal foreshadows an impending glut

· Opinion: Defining, Building and Governing a Metaverse for All

Consensus among the stakeholders can be built along two areas: governance and the creation of economic and societal value

· China Central SOEs’ Profit Growth Outpaces GDP

Total profits of the 98 companies directly under State Council control rose 5% last year, exceeding the country’s 3% economic expansion, a feat their administrator hopes to repeat this year

· Collaboration on Pandemics, Climate Change Will Bring China and U.S. Closer, Summers Says

Former U.S. Treasury Secretary was among more than 30 officials and industry leaders who joined Caixin’s luncheon

· 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

Click here to read more of the latest news.

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