China’s benchmark Shanghai Composite Index (000001.SH) gained 1.15% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 1.33%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.24% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.63%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Driverless Truck Startup TuSimple Fires CEO
Co-founder Hou Xiaodi ousted as board investigates links with rival Hydron, set up by TuSimple’s other co-founder, Chen Mo
· Naspers Denies Report It’s Selling Its Tencent Stake to Citic
Largest shareholder of Chinese social media giant with 28% maintains its plan for gradual sell-down after making billions over two decades
· In Depth: Yuan Gets More International Love as Dollar Rivalry Grows
China and its trading partners are doing more business in yuan, Belt and Road investment is increasingly being funded in the Chinese currency, and ‘dim sum’ bond sales are booming
· Xi Pledges Supply Chain Stability With Vietnam
During talks on Monday in Beijing, visiting Vietnamese leader Nguyen Phu Trong vowed to maintain peace along the country’s border with China and ensure regional maritime stability
· Debt Woes Grow for Chinese Developers CIFI, Greenland
The debt crisis facing the country’s real estate market shows no sign of easing given persistent weak new homes sales
· Heng Swee Keat: Reinvigorating Singapore-China Ties Through New Areas of Collaboration
Singapore looks forward to partnering with China to strengthen recovery from the pandemic, reinvigorate bilateral cooperation, and overcome common challenges, writes the country’s deputy prime minister
· Geely Plans to Spin-Off, List Premium EV Unit
Zeekr’s first model rolled off the production line in October last year. Deliveries of the vehicle, which retail at 335,000 yuan, have topped 45,000 so far
· China Cracks Down on Rampant Celebrity Endorsements
Regulators bar stars from pitching cigarettes, tutoring services, health-care products and health foods following a series of scandals and abuses
· Digital Yuan Puts Priority on Privacy Protection, PBOC Chief Says
Central Bank Governor Yi Gang outlines e-CNY measures to protect personal data while combatting illicit activities
· Opinion: ‘Walking Back Home’ Should Not Happen Again
Viral flight by workers from Foxconn factory in Henan raises questions about what happened and about coordination of pandemic prevention
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This article was generated by Caixin Automation.
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