China’s benchmark Shanghai Composite Index (000001.SH) lost 0.34% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.6%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.41% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.14%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Shanghai Lays Out Plan to End Lockdown and Reopen Business by June
The city will embark on a three-phase plan this week that will gradually lift restrictions that have kept residents under strict lockdown for nearly two months
· Cover Story: China’s Race to Provide for Its Aging Population
As government pension funds run dry and employer benefits fall short, policymakers put renewed emphasis on personal retirement funds
· China Pulls Out of Hosting 2023 Asian Cup Due to Covid
Shock announcement comes after Beijing postponed the 2022 Asian Games as lockdowns continue to restrict the movements of hundreds of millions of people across the country
· Chinese Property Developer Logan Seeks to Extend Maturity of Offshore Bonds, Sources Say
Request gives credence to predictions that the real estate sector’s debt crisis is far from over amid sluggish housing sales and a subdued recovery in financing
· Weekend Long Read: The Free Market Isn’t to Blame for Shanghai’s Lockdown Woes
The city’s Covid struggles reflect the indispensable role of market economy — rather than central planning — in safeguarding people’s livelihoods
· Former Moutai Chairman Gao Weidong Under Anti-Graft Probe
Currently head of the Guizhou province Coal Geology Bureau, Gao joins a parade of corrupt state-owned liquor giant executives and local government officials
· Hong Kong Police Smash Money Laundering Ring That Used Virtual Banks
Cops say 17 people they arrested laundered $12.4 million of illegal proceeds by enticing individuals to open and hand over access to accounts at virtual banks
· In Depth: Downfall of Everbright Securities’ Top Brass Reveals Legacy of Cronyism and Corruption
Six board members and high-level executives at the brokerage have been dressed down for misconduct under the leadership of recently resigned Chairman Yan Jun
· Tech Insider: Xiaomi Cleared to Tap India Funds, Nio to Start Singapore Trading
CATL licenses battery technology to Thai firm, Jack Ma makes rare public appearance at Alibaba event
· Hospital Bosses Sent to Prison for Admitting Fever Patients
Two former directors of a medical institution in Sichuan province were convicted of violating local pandemic control measures
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This article was generated by Caixin Automation.
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