China’s benchmark Shanghai Composite Index (000001.SH) lost 0.31% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.79%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.07% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.86%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Beijing Moves Quickly to Apply New National Tutoring Rules
City’s education authority orders tutoring enterprises to become nonprofits and exit compulsory education space by year-end
China tightens Covid-19 controls at airports; PipeChina opens bidding for LNG terminal leases; Xiamen Tungsten’s lithium battery unit to sell shares
· Opinion: Online Games Should Be Next in Line for a Crackdown
China’s giant game industry is even more harmful for children than the online tutoring business and needs dramatic overhaul, argues leading education advocate
· Kuaishou Makes U.S. Market Retreat by Shutting Down Rival App to TikTok
Chinese online video platform bails on pitting Zynn against ByteDance’s app but still plans to pour $1 billion into expanding overseas this year
· Chip Speculators Targeted by Probe on Cost of Scarce Auto Part
Market regulators are attempting to bridge a vital auto manufacturing supply shortfall likely to extend into 2022
Decline of over 37% quarter-on-quarter comes as financial conglomerate required to comply with new microlending rules
· Foreign Coaches Give China’s Olympians a Leg Up in Sports Once Dominated by the West
Chinese athletes in Tokyo add to top medal haul with success in events like rowing and fencing
· U.S. Covid Case Count, Jabs for Chinese Kids, Online Entertainment Crackdown
Macao declares ‘state of prevention’ after recording four Covid cases, academic suggests removing school choice from parents
· China Tightens Covid-19 Control Measures at Airports as Cases Rise
Daily testing of airline and airport staff, isolation zones on aircraft are among the steps taken to prevent a repeat of the latest outbreak, which has been blamed in part on slack management
· Hong Kong Fines UBS $1.5 Million for Compliance Failures
Penalty imposed after the Swiss financial giant failed to disclose financial interests in Hong Kong-listed firms it covered in research reports
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
.jpg?w=600)
