China’s benchmark Shanghai Composite Index (000001.SH) lost 0.11% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.35%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.28% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.93%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Trending in China: Alibaba-Backed Biz School Forced to Drop ‘University’ From Name
Hupan Academy’s illicit use of the word had managed to escape the notice of authorities for years
· Zhang Yiming, Founder of TikTok Parent ByteDance, to Step Down as CEO
The 38-year-old entrepreneur will be replaced at the end of the year by Liang Rubo, the company’s head of human resources
More energy-sector officials are probed for corruption; Chinese companies link up to develop zero-emissions technology for ships
· Shenzhen Skyscraper Shaking Spurs Safety Alert by U.S. Consulate
SEG Plaza’s 75-story tower mysteriously wobbled, setting off an evacuation and a safety inspection
· Fosun Unit Mulls Bid for Bankrupt HNA’s Airline Assets
Chinese conglomerate brings to four the number of investors showing interest in buying the former high-flyer’s sprawling air travel operations
· Guangdong Bars Range of Nonfinancial Data From Social Credit Ratings
Province rolls out new rules restricting data that merchants can collect on consumers and limiting sanctions on those with poor credit
· Air Conditioning Giant Midea Starts Making Auto Parts
As demand for home appliances tops out, top industry players tap into the white-hot market for new-energy vehicles
· China Hits Cryptocurrencies With Double Whammy
Inner Mongolia intensifies crackdown on cryptocurrency mining while regulators ban financial institutions from providing related services to customers
· China Rolls Out Single-Dose Covid-19 Vaccine in Five Eastern Cities
Flare-ups of the coronavirus prompted the government to speed up its immunization program with Shanghai among cities administering one-shot vaccinations
· Snowball Derivatives Offer a Risky Bet on Stock Market Stability
Market players need to clearly see the potential downside of the products, which lack an investor-friendly design, insiders say
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This article was generated by Caixin Automation.
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