China’s benchmark Shanghai Composite Index (000001.SH) gained 0.99% on Friday, while the Shenzhen Component Index (399001.SZ) rose 2.14%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.48% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.88%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekend Long Read: David Dollar — An Outstanding Economist Who Believed in Fact-Based Dialogue
Dollar, who passed away this month, helped advise the China government as it navigated through the 2008 global financial crisis, writes Bert Hofman
· China’s Former Premier Li Keqiang Dies at 68
Li served as No. 2 under President Xi Jinping for a decade. He died early Friday morning after suffering a heart attack
· Weekly Must-Read: The Struggle Facing Big-Box Supermarkets in China
Carrefour’s shrinking presence is emblematic of broader gloom that has befallen the country’s supermarket operators that are competing with e-commerce platforms and smaller stores
· Thunes Sets Up Digital Yuan Partnership With China Construction Bank
Singapore-based payment infrastructure platform to develop cross-border remittance systems for Chinese banking giant’s clients
· Jiangsu World Drops $820 Million IPO Amid Regulators’ Doubts
Farm machinery maker first applied to Shenzhen exchange in December 2020 but ran into issues raised by regulators
· China’s Refiners Will Have to Close Units Under New Guidelines
Government’s green development guidelines limit capacity to 1 billion tons a year starting in 2025, meaning old, inefficient operations will have to shut down
· Two Former China State Rail Firm Executives Behind Bars over Bribery in Singapore
Xi Zhengbing and Zhou Zhonghe are serving time after a Guangzhou court found them guilty in a case the city-state’s prosecutors described as the ‘largest case of public sector corruption’ in recent years
· China Cracks Down on Youth Cyberbullying, Gaming Addiction
State Council announces regulations that require platforms to better protect minors online, including by monitoring private messages and using AI
Four state agencies release green development strategy for oil refineries, hydrogen-powered van travels over 1,000 kilometers
· Shareholder in Zhongzhi-Linked Trust Firm Delists Amid Deepening Liquidity Crisis
Jingwei Textile Machinery removed from Shenzhen bourse at own request as Zhongzhi unit fails to pay out wealth products
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This article was generated by Caixin Automation.
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