China’s benchmark Shanghai Composite Index (000001.SH) gained 0.81% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.3%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.83% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.26%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Daimler First-Quarter Earnings Exceed Projections on China Sales
The automaker reports $6.9 billion in earnings before interest and tax, beating analysts’ consensus estimate
· Huawei Lawyers Improperly Helping CFO Meng Wanzhou Fight Extradition, U.S. Says
Federal prosecutors accuse the company’s legal team of violating a court order by sharing documents with its founder’s daughter
· Xpeng Looks to Cut Reliance on Foreign Made Chips Amid Global Shortage
· China’s First-Quarter GDP Grew 18.3% on Low Baseline
The economy recovered steadily as the GDP rose 0.6% from the fourth quarter last year and 10.3% from the first quarter of 2019
· CX Daily: Rising Costs for Pinduoduo to Maintain Growth
China’s coal industry needs a radical overhaul to meet its carbon neutrality goal, research says. Why the exporters in Yiwu face frozen bank accounts?
· Scandal-hit Luckin Coffee Gets $250 Million Investment
Centurium Capital leads effort to restore business after accounting fraud prompted lawsuits against coffee chain
· TuSimple Stock Stays Flat in Debut After Pricing Above Expected Range
Self-driving truck maker closes at its IPO price after dipping nearly 20% intraday
· Ansteel, Bengang Relaunch Restructuring to Create China’s No. 2 Steelmaker
Planned consolidation would be the latest step toward state goal of merging steelmakers to compete with global giants
· Giant Pharma Yangtze River Fined $117 Million in Antitrust Crackdown
Regulator accuses company of fixing drug prices with retailers to force out competitors
· Geely Targets Big Tech With Its New Electric-Car Unit
Zeekr’s combination of technology and car-making experience will give it an edge over rivals, president says
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This article was generated by Caixin Automation.
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