China’s benchmark Shanghai Composite Index (000001.SH) lost 0.24% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.69%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.13% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.22%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Carbon Market Records Its First Cross-Border Deal
Hong Kong buyers’ purchase of credits from Chinese solar project provides a sign of life even as trading of emission quotas dwindles away in market’s first month
· Former ICBC Shanghai Branch Head Sentenced to Life
Gu Guoming convicted for accepting $21 million of bribes over 11 years amid a series of graft scandals rocking Shanghai banking
· Reg Watch 5: A Timeline of China’s Latest Regulatory Storm
Chinese policymakers have released a barrage of industry-shaking rules over the last nine months. Caixin Insight has complied a chronological list to help make sense of it all
· Regulatory Headwinds Take Luster Off Beauty Industry Stocks
Authorities are banning loans for cosmetic procedures and tightening rules for certain procedures, stirring speculation over a wider crackdown
· PBOC Suspends Mandatory Ratings for Interbank Market Bond Issuers
Decision is part of an overhaul of the credit ratings sector triggered by scandals and bond defaults
· New Regulation Plan Pledges ‘Consistency,’ Respect for Rule of Law Amid Roiling Markets
Policy document emphasizes the use of legislation rather than administrative measures, and is the first to use the term ‘antitrust’
· Police Officers Charged In Cover-Up of Cadmium-Tainted Rice Scam
Yiyang city officers accepted bribes to do a perfunctory investigation and drop the case, indictment says
· East China City Scrambles to Control Virus Outbreak Linked to Testing Site and Games Parlor
Eight Yangzhou officials punished as seventh round of mass testing is ordered
· China Raises the Bar for Tech Tax Break
Software companies have to spend at least 7% of their annual revenue on R&D to qualify for a preferential 10% corporate income tax rate
· PBOC Offers $31 Billion in Cheap Loans to Boost Struggling Regions
Central bank sets up new relending quota to help agriculture and small businesses in 10 provincial-level regions suffering weak credit growth
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This article was generated by Caixin Automation.
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