China’s benchmark Shanghai Composite Index (000001.SH) gained 1.12% on Monday, while the Shenzhen Component Index (399001.SZ) rose 2.59%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.72% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 4.06%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: Rescuing China’s Would-Be Chipmaking Champion
Debt-laden Tsinghua Unigroup gets on the fast track for bankruptcy reorganization with $46 billion of assets and China’s most ambitious semiconductor project at stake
· Beijing’s New Bourse to Have Daily Price Limit of 30%, Regulator Says
China’s securities watchdog releases draft regulations on listing conditions and supervision of the new stock exchange
· Chairman of Chipmaker SMIC Quits Due to Health Issues
Zhou Zixue will continue to serve as an executive director after helming China’s leading foundry for over six years
· Energy Insider: China to Invest $356 Million in Decarbonization
China Southern Power Grid borrows $250 million for clean energy; State Grid issues $1.55 billion of offshore bonds; CATL and Jinko link up on solar power storage
· Greenlight Kids Tutoring Operation Shuts Down in Shanghai
Amid fallout from China’s restrictive new private education rules, Greenlight closing leaves thousands of parents chasing millions of yuan of refunds
· Weekend Long Read: Why Chinese Pop Stars Are Expected To Be Moral Models — and Fail
Cultural icons are expected to offer a moral role model as their huge fan bases might copy their words or deeds. In an increasingly complex society, we cannot rely on those solutions.
· JD.com Unit to Take Over China Logistics in $2.1 Billion Deal
Transaction reflects intensifying competition as China’s transition to e-commerce accelerates amid the pandemic
· Real Estate Lending Caps Will Stay in Place, Central Bank Says
Since mechanism for reducing systemic risks took effect Jan. 1, the proportion of property loans in bank portfolios declined as financial institutions move to comply
· In Depth: State Giant Citic Throws Stricken Huarong a Lifeline
China’s second-biggest financial holding company is leading a bid to pull bad bank back from the brink
President Xi promises stock exchange for small businesses, and Nanjing commemorates anniversary of Japan’s World War II surrender
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This article was generated by Caixin Automation.
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