China’s benchmark Shanghai Composite Index (000001.SH) gained 0.23% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.67%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.56% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.95%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: Race Is on to Become China’s SpaceX
Chinese startup LandSpace Technology became the world’s first private company to launch a methane-liquid oxygen carrier rocket, leaping ahead of local rivals including GalaxySpace, Chang Guang Satellite and i-Space
· Retired China Railway Chief Pleads Guilty to Taking $8.4 Million of Bribes
Sheng Guangzu to be sentenced later for corruption and abuse of power in final years of a 30-year railroad system career
· Central Bank Governor Vows More Financial Support for Private Sector
Pan Gongsheng in meeting with representatives of private businesses outlines plan to roll out guidelines for expanded backing
· U.S. Business Confidence in China Is Rising, Survey Finds
Most American companies report rebound from effects of pandemic but are cautious about expanding investment, AmCham South China sounding shows
· Sino-Ocean Creditors Vote Down $278 Million Bond Extension
Bondholders narrowly accept 30-day reprieve for state-backed developer to work out a new extension plan and rally support to fend off default
· Argentina Taps China Currency Swap Line to Help Repay IMF Loan
The South American country uses the yuan to repay more than half of a $2.7 billion loan installment due this week amid a collapse in its dollar reserves
· In Depth: Why Some Kids in China Can’t Play During Recess
More and more elementary schools are keeping students at their desks during breaks in fear of the complaints, lawsuits, and financial payouts that often follow injuries on school grounds
· Charged With Five Crimes, Ex-Head Coach of China’s National Soccer Team Will Stand Trial in Hubei
Li Tie, who will be tried in Xianning Intermediate People’s Court, is accused of five crimes, including bribery
· Ford Hands Local JV the Wheel to China Electric Car Unit
Move marks the end of the Mustang Mach-E’s independent operations as it joins Changan Ford’s lineup in the highly competitive market
· Xpeng Shares Plunge as Autonomous Driving Mastermind Departs
American citizen Wu Xinzhou steps down for ‘personal and family reasons’ as some cite U.S. restrictions and others see him headed to Nvidia
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This article was generated by Caixin Automation.
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