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Shanghai Composite Index Rose 0.54% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.54% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.38%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.58% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.07%.

Below is a rundown of the top China business and finance stories, plus other news for the day:

· China Appoints Lu Lei as Deputy Central Bank Governor

Veteran financial regulator to oversee research bureau, currency bureau, among others

· Scandal-Plagued Amethystum Says Controlling Shareholder Detained

Former Chairman Zheng Mu charged with securities fraud in connection with 2020 IPO

· Tech Insider: China Softens Stance on Gaming, More Vivo Executives Detained in India

Nio unveils electric sedan to take Porsche head-on, Micron settles IP lawsuit amid push to repair Beijing ties

· Chinese Solar Major Tongwei Plans $4 Billion Factory as Consolidation Looms

The new facility is designed to produce 500,000 tons of industrial silicon and 400,000 tons of polysilicon each year

· Year in Review: China’s Economy Struggles to Regain Early Momentum

Growth will likely hit policymakers’ target for 2023, but a bumpy recovery sets the stage for slightly more expansionary fiscal and monetary policies in the year ahead

· Opinion: China Will Remain a Critical Market for Multinationals

Despite macroeconomic headwinds and pressure from local competitors, the country will continue to be a priority for MNCs in 2024

· Troubled Sichuan Trust Offers 40% to 80% Compensation to Investors

Company offers incentives to investors to accept repayment plan soon; compensation ratio weighted toward smaller players

· Two More Vivo Executives Detained in India in Money-Laundering Probe

China’s foreign affairs ministry ‘closely following’ latest arrests byIndia’s Enforcement Directorate; ministry asks for fair treatment for Chinese businesses in India

· Air China Order Gives Homegrown C919 Jets a Boost

Chinese flag carrier plans to add 17 of the domestically produced aircraft to cut maintenance costs, increase number of potential routes

· Year in Review: Chinese Diplomacy Springs to Action

A flurry of high-level meetings with the U.S., Europe and developing countries sought to ease bilateral tensions and boost global influence

Click here to read more of the latest news.

This article was generated by Caixin Automation.

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