China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.37%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.5% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.06%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Deputy General Manager of China Taiping Falls under Probe
Sources say the investigation into Xiao is part of a wider crackdown that has officials in Shanghai shook
· China Unveils New Plan to Boost Household Consumption Amid Slow Economic Growth
New measures aim to increase spending but are being introduced amid housing market troubles, a key indicator tied to household consumption
· GF Securities Fined $1.42 Million for Inadequate Due Diligence in Misho’s Fraudulent Stock Sale
Brokerage firm in hot water again after regulator dolls out fine after underwriting a now-troubled landscaping construction company in 2018
· China and U.S. Return to Climate Discussions as John Kerry Visits Beijing
Beijing and Washington are resuming talks that were abandoned after Nancy Pelosi’s visit to Taiwan last year
· Tech Insider: U.S. Sanctions Crush Huawei Chip Design Arm, SMIC Chairman Resigns
Chinese chip gear profits soar after Washington’s curbs spur local buying, Huawei books $560 million from patent deals in 2022
· Five Things Powering China’s Energy Storage Boom
While planned capacity has grown rapidly, insiders say more pro-market reforms and a sustainable business model are needed
· Former Top City Prosecutor Booted From Communist Party on Graft Charges
Zhao Jianwei, based in Dalian, Liaoning province, was found to have faked a divorce, used his positions to benefit his wife’s business, and helped
· Chinese Steel Companies Continue Facing Sluggish Demand as New Construction Falls
Industry out over 70% of profits in first five months, with nearly half of all steel companies reporting losses
· Chinese Pre-Owned Housing Prices Slide Again in June
Data provides clearer picture than new home sales as market subject to fewer factors
· First Batch of China Green Bonds Deemed Compliant With Shared EU Standard
A total of 193 bonds have been deemed to be in line with the Common Ground Taxonomy, which experts say makes them more marketable to global investors
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This article was generated by Caixin Automation.
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