China’s benchmark Shanghai Composite Index (000001.SH) lost 0.71% on Monday, while the Shenzhen Component Index (399001.SZ) fell 1.49%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.58% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.91%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: The Countdown Begins: TikTok Navigates Uncertain Future Amid U.S. Ban Bill
ByteDance maintains it won’t be pressured to sell platform used by 170 million Americans
· China Issues New Rules on Investing Dividends of SOE Shares for Security Fund
The dividends, which will be largely managed by the National Council for Social Security Fund, can be invested in bank deposits and government bonds
· Former Deputy Chief of China Tobacco Regulator Pleads Guilty to Accepting Record in Bribes
He Zehua was accused of accepting more than $130 million in bribes while at the State Tobacco Monopoly Administration and its branches in Jiangsu and Anhui provinces
· Weekend Long Read: How Putin Transformed Russia and the World
The Russian president’s ascent had raised hopes of reform, but under his decades-long rule, market competition has eroded and social spending has dwindled
· China Relaxes Requirements on Cross-Border Data Transfer
China’s cybersecurity regulator responds to concerns of foreign businesses by relaxing curbs on outbound data flow and narrowing the scope of security review
· U.S. Trade Probe on Chinese Shipbuilders Has Limited Impact, Ministry Says
Petitioners asked the U.S. Trade Representative to impose a port fee on Chinese shipping and use the money to revitalize the U.S. shipbuilding industry
· Bank of America’s Staff Move Piles Pressure on Hong Kong Office Market
The financial institution plans to relocate its non-customer-facing staff to a more out-of-the-way office in the city to save on rent, sources say
· Former Yoozoo Executive Sentenced to Death for Fatally Poisoning Chairman
In a case that gripped China, Xu Yao was found to have murdered Lin Qi due to a disagreement over management issues
· Foreign Firms Call for China to Implement New Plan to Boost FDI
The initiative addresses concerns such as cross-border data transfer, but the “true test lies in how and when” it is acted on, says an official at the German Chamber of Commerce in Shanghai
· China’s Hard Liquor Remains a Hard Sell Overseas
Baijiu exports slid 5.5% last year with producers like Kweichow Moutai, whose foreign sales only account for a fraction of the total, seeking to boost its popularity among non-Chinese drinkers abroad
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This article was generated by Caixin Automation.
