Good Morning. Welcome to The Wire’s daily news roundup. Each day, our staff gathers the top China business, finance, and economics headlines from a selection of the world’s leading news organizations.
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The Wall Street Journal
HSBC’s Profit Surges, but Bank Takes Hit From China Property — London-based bank plans further $1 billion buyback.Chinese Banks in Two Key Cities Cut Mortgage Rates to Boost Housing Sector — Cuts in Shanghai and Guangzhou, though modest, follow similar steps by dozens of smaller cities as home prices and sales weaken.Lycra, the Stretchy Fiber Maker, Targeted by Creditors of Chinese Textile Group — Four creditors of textile-and-fashion giant Shandong Ruyi seek control of company, citing 2019 loan.Chinese Tutoring Companies Take Big Financial Hit Amid Crackdown — New Oriental, TAL and Gaotu Teche
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