China’s benchmark Shanghai Composite Index (000001.SH) gained 0.34% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.36%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.44% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.95%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Expected New President of Huarong Named President of Rival
Liang Qiang accepts promotion at China Great Wall Asset Management after passing on similar position at troubled Huarong
Former Sinopec vice president comes under investigation; CRSC wins bidding on $392.9 million of rail projects; China’s premier pitches Zhejiang strategy for commodity transport
· Exclusive: Gansu Race Organizer Won the Job Through Noncompetitive Bidding
Shengjing Sports and Culture Development was hired for $153,000 via negotiations, contract documents show
· In Depth: Safety Standards Under Scrutiny After Gansu Trail Race Tragedy
Experts cite organizational flaws, lack of professionalism in rapidly developing trail running sector
· In Depth: Saving Peking University’s Fallen Tech Conglomerate
Creditors of Peking University Founder Group will meet by the end of May to vote on a restructuring that will see Ping An Insurance lead a takeover of a portfolio of attractive businesses and jettison a rump of worthless assets
· China’s Graft Busters Reveal ‘Shocking’ Corruption Among Local Regulators of Failed Baoshang Bank
Five officials raked in 700 million yuan in bribes, mostly linked to the scandal-hit lender, report shows
· The 10 Domestic Stories Chinese Readers Can't Stop Following – May 25
China mourns beloved agricultural scientist; country delivers 500 million doses of Covid-19 vaccine; and the personal credit reports that contained some pretty insulting language
· The 10 Hottest International Stories China Is Reading – May 25
The death of Japanese dancer Mikiko Matsuyama, demands for the BBC to apologize to China, and India’s Covid outbreak
· ‘Fast and Furious’ Turbocharges China’s Box Office
The tenth edition in the car-chase and family-focused series saw weekly takings top 1 billion yuan
· Northwest Province Investigates Race That Left 21 Runners Dead
Gansu authorities are looking into the cause of the deaths as well as the company that organized the 100-kilometer trek
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This article was generated by Caixin Automation.
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