China’s benchmark Shanghai Composite Index (000001.SH) gained 0.43% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.61%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.95% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.66%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· American Air Plans to Add Flights to China, Joining Rivals
American Airlines joins Delta, United after U.S. and China agree to double weekly flights; China returning to more normal transit post-pandemic as demand for personal travel surges
· State Investors to Inject $1.7 Billion in Shenzhen Wafer Foundry
China’s ‘Big Fund’ to take 25% stake in China Resources Microelectronics’ Shenzhen unit alongside four other state-backed investors; Shenzhen facility aims to produce 40,000 wafers a month
· HKEX First Half Profit Rises 31% Despite Sliding Trading
Higher interest rates lift HKEX investment returns to offset weaker trading; exchange sees strong business growth linked to derivatives, stock connect
· China’s Money-Losing IPO Fever Breaks
Regulators haven’t accepted an application by any unprofitable company since June 2022, in a sign they want to slow the pace of such new listings
· BRICS Leaders to Discuss Expansion of the Bloc, Brazilian Top Diplomat Says
A consensus on admitting new members is ‘key to the continuing success of the group,’ Mauro Vieira tells Caixin
· China Specifies Targets of Sweeping Anti-Graft Probe Into Medical, Drug Sectors
The crackdown on the country’s health care industry, long-plagued by bribery, focuses on areas including rent-seeking, kickbacks and misuse of insurance funds
Walrus New Material’s Vietnam unit has slashed production, paused shipments and recalled products as it tries to comply with U.S. rules on supply chain traceability
· Property Investment Slid Further in July Amid Weakening Market
Real estate shows no sign of rebound as sales fall again, extending the industry’s protracted contraction
· Exclusive: Former President of World’s Top Port Operator Under Graft Probe
Investigation of Shanghai port’s Yan Jun leads to collapse of $207 million equity tie-up with Jiangsu Lianyungang Port
· Xiaomi Joins AI Model Fray With Upgrade to Smartphone Voice Assistant
The company also officially unveiled a new foldable phone as it steps up its push into the high-end market
Click here to read more of the latest news.
This article was generated by Caixin Automation.
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