China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.35%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.28% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.72%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Gallery: Boao Forum Brings In Big Names
The year’s Boao Forum for Asia conference wraps up Wednesday after running 63 sessions on global economic and political topics like digital currencies, 5G and Covid-19 vaccines. Attended by government and finance heavyweights like President Xi Jinping and former PBOC chief Zhou Xiaochuan, the forum opened on Sunday in South China’s Hainan province, drawing more than 4,000 participants
· Caixin-Sinica Business Brief: China’s Creative Tactics to Speed Up Covid Vaccine Rollout
Plus, state-owned enterprises’ profits triple in the first-quarter; China emerges as the world’s largest buyer of chip equipment in 2020; and the Hong Kong government plans to ease travel restrictions between the financial hub and the Chinese mainland
· Georgieva: Overlapping Global Changes Challenge Nations to Work Together
Pivoting from recession to rebound, accelerating digital transformation and building a low-carbon economy in the face of climate change will require international solidarity
· Shanghai Composite Index Ended Nearly Flat on Wednesday
Shenzhen Component Index closed up 0.35%
· China Confirms President Xi to Attend Biden Climate Summit
The announcement indicates the Chinese leadership is willing to engage with the U.S. on climate issues despite their overall tense relationship
· Foxconn to Save $80 Million in Taxes at Sharply Scaled-Back U.S. Plant
Taiwan tech giant lowers initial $10 billion investment in Wisconsin to $670 million
· Toshiba Shares Fall 4% After CVC Halts Buyout Plan
Private equity firm’s proposal derailed over CEO swap and lack of partners
· Global Chip Rush Drives Taiwan’s Export Orders to Record
Orders grew 33.3% to $53.7 billion in March, Taiwan’s economic authority said on Tuesday
· Embattled Huarong’s Key Offshore Unit Says Its Back in the Black
China Huarong International announces that it has laid a “solid” foundation for transformation as concerns persist over its ability to repay debt
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This article was generated by Caixin Automation.
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