China’s benchmark Shanghai Composite Index (000001.SH) lost 0.87% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.63%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.68% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.75%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Second-Quarter GDP Grows 6.3% on Low Base, Below Expectations
On a quarter-on-quarter basis, GDP in the April-to-June period only grew 0.8%
· Cover Story: Dark Arts of Fund Manager in China’s Bond Market Lift Lid on Debt Mess
One individual gamed the murky system of structured bonds to raise billions for local governments, with regulators now scrambling to eradicate the practice that could help derail the economic recovery
· ANZ to Shutter Wholly-Owned Bank in Chongqing in Asia Strategy Shift
Australia and New Zealand Banking Group began tweak to focus to large corporate and institutional clients in the region in 2016
· China Trade With Latin America Rises 7% in Value in First Half
Countries including Mexico and Brazil stepped up purchases of manufacturing equipment, and Chinese automakers raced to expand operations in the region
· Weekend Long Read: Contradictions, Convictions and Conundrums in the Asian Century
Speaking at Caixin’s Asia New Vision Forum, Singapore’s former U.N. Ambassador Kishore Mahbubani explains just how serious the fraught U.S.-China relationship is for the rest of Asia, and the world
· Chinese Collapsed P2P Platform Founder Sentenced to Life Imprisonment
Peng Tie was convicted of illegally taking over a billion dollars from deposits
· China’s Central Bank Confident in Economic Recovery
Officials say current challenges are “normal” for post-pandemic recovery
· Update: China Issues Final Guidelines for Managing Generative AI Services
Set to take effect on Aug. 15, the rules aim to promote development of the emerging technology while reducing risks in areas such as personal information and data security
· U.S. and China’s Top Diplomats Meet in Indonesia
Wang Yi, director of the party Central Committee’s foreign affairs office, says meeting with U.S. Secretary of State Antony Blinken was ‘an important step’ toward repairing ties
· China Plans to Boost Researcher Salaries in Areas Aligned With National Innovation Goals
The world’s second-largest economy is striving for greater self-sufficiency, especially in certain core industries, such as semiconductors, amid growing geopolitical concerns
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.
