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Shanghai Composite Index Rose 1.19% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 1.19% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.7%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.99% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.32%.

Below is a rundown of the top China business and finance stories, plus other news for the day:

· China Cranks Up Pressure on Banks to Boost Lending

Central bank and banking regulator call 24 top lenders on the carpet and issue orders to pour credit into small businesses, green projects, tech, energy and infrastructure

· China Aims to Beat Its Own Emission Targets, Envoy Says

Climate change ambassador Xie Zhenhua at World Economic Forum cites aggressive work on cutting greenhouse gases and plan to plant 70 billion trees in 10 years

· Tech Insider: Layoffs at Tencent and Zhihu, Airbnb Shutters China Business

Didi shareholders approve U.S. delisting, mysterious firm seeks control of Arm China

· Q&A Site Zhihu Fires Up to 30% of Staff, Sources Say

Quora-style website has laid off employees across departments as it struggles to make a profit

· Exclusive: Davos Photo Used by U.S. Congressman to Criticize China Didn’t Show Anyone Chinese

Figures accused of not standing up during an ovation for the Ukrainian president’s speech at the World Economic Forum were actually from the Vietnamese delegation

· China’s Foreign Minister to Visit South Pacific Island Nations After Security Pact With Solomon Islands

Wang Yi’s trip will take him to the Solomon Islands, Kiribati, Samoa, Fiji, Tonga, Vanuatu, Papua New Guinea and East Timor

· Beijing Vows to Stamp Out Covid, Transfers Nearly 2,000 People to Neighboring City for Isolation

Chinese Vice Premier Sun Chunlan calls for quicker isolation of the infected and their close contacts as outbreak enters second month

· Opinion: Three Ways Tech Innovation Can Help Us Meet Climate Goals

Reaching net zero will require rapid scaling up of existing clean energy solutions, developing new ways to make and store clean energy, and exploring ways to reverse historical emissions

· China Pours On Billions of Dollars More in Tax Relief

In sweeping expansion of stimulus to offset Covid slowdowns, State Council also delays loan payments, extends social security tax relief and vows more construction and farmer support

· China Suspends Overseas Tours, Discourages Citizens From Going Abroad

‘Zero-Covid’ policies mean continuation of travel restrictions amid worst pandemic outbreaks in two years, authorities say

Click here to read more of the latest news.

This article was generated by Caixin Automation.

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