China’s benchmark Shanghai Composite Index (000001.SH) lost 0.22% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.3%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.84% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.19%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Online Health-Care Platform ClouDr Mulls $500 Million IPO
ClouDr provides software-as-a-service systems for chronic disease management, connecting hospitals, pharmacies, insurers and patients
· Analysis: The Need for Sino-U.S. Economic and Trade Relations
Starting from a shared goal of bettering people’s lives, the world’s two biggest economies should join forces to fight the threat to humanity of climate change
· Alibaba-Backed Grocer Nice Tuan Fined for Pricing Fraud
In addition to $235,302 fine, group-buying platform is suspended from operations in Jiangsu for three days
Beijing plans massive hydrogen fuel cell project; China issues new guidelines regulating the cement industry; more wind power goes online
· Former Inner Mongolia Police Chief Admits to Taking $25 Million in Bribes
Ma Ming pleads guilty to violations over 19 years as he held several senior government posts in Inner Mongolia and Jilin
· China Unveils Top Task Force for Carbon Goals
Vice Premier Han Zheng presides over first session of group to lead fight against global-warming carbon emissions
· China’s Banking Regulator Adds Limits on Wealth Management Marketing
Final rules taking effect June 27 will also apply to wealth management units of commercial banks and foreign-owned operations
· Yuan’s Strength Seen Continuing as Dollar Weakens
Citic Securities sees further upside for the Chinese currency, forecasting another 3% jump
· Beijing Offers Vaccines to Help Taiwan Fight Covid Surge
Central government is ‘very worried’ about reports of triple-digit increases in infections over 11 consecutive days
· Li Auto Admits Its Self-Driving Tech Is Sub-Par, and Its Stock Jumps
Markets unfazed as company slides back into a loss in the first quarter
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This article was generated by Caixin Automation.
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