China’s benchmark Shanghai Composite Index (000001.SH) gained 0.78% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.61%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.25% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.85%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Exclusive: CSC Financial Gets New Boss After Five-Month Vacancy
Zou Yingguang, head of Citic Securities’ fixed income division, will become CSC Financial’s general manager, succeeding Li Geping
· Central Huijin Steps Up Investment to Bolster Stock Market
Domestic arm of China’s sovereign wealth fund buys an undisclosed amount of exchange-traded funds following support for Big Four banks
· Top Chinese Investment Bank CICC Picks New Boss
China International Capital Corp. nominates industry veteran Chen Liang to succeed Shen Rujun as chairman
· Former Chief Tobacco Regulator Targeted in Graft Probe
Ling Chengxing, the former head of China’s State Tobacco Monopoly Administration, is one of nearly 20 executives and officials swept up in the two-year probe of the cigarette industry
· Former Provincial Legislature Vice Chairman Probed for Alleged Corruption
Zhang Xiulong, an ex-lawmaker in Guangxi, is suspected of ‘serious violations of discipline and law,’ according to the Central Commission for Discipline Inspection
· Cover Story: Modi Steers India’s Relationship With Russia Through Storm of Ukraine War
Indian prime minister treads a fine line between not offending Moscow, historically its main arms supplier, and building stronger relations with the West
· Foreign Banks’ ‘Adjustments’ in China Only Short Term, National Financial Regulator Says
The pandemic and increasing uncertainties in the global economy have caused some foreign banks to make changes to their business in China, but it is not a long-term trend, said official from state administration for financial regulation
· Dongfeng Motor to Buy Assets From Stellantis JV to Consolidate Manufacturing
Dongfeng Peugeot Citroën Auto will sell land use rights and buildings in Hubei for $234 million after China sales drop nearly 30% in first nine months
· Ex-Executive of Shanghai Bourse Accused of Bribery and Fake Divorce
Liu Ti, exchange’s former deputy general manager, falsified records, embezzled public assets and pursued improper gains, graft busters say
· China Defines Insurers That Are ‘Too Big to Fail’
Central bank and top financial regulator outline criteria for special supervision of big, complex, highly interconnected institutions
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