China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.5%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.46% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.38%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Top Automaker SAIC Moves to Resume Production in Shanghai
Preparations after three weeks of Covid lockdowns focus on ensuring personnel and supply chains with virus-control measures
· China to Scrutinize Foreign Businesses in the New Futures Market
Latest draft of derivatives framework would tighten trading supervision, clarify swaps and forward contracts, and scrutinize cross-border transactions
· China Merchants Bank President Removed From His Position
Board votes to reassign Tian Huiyu after nine years at the helm and put Wang Liang, an executive vice president, in charge
· Exclusive: China Banking Industry Group Encourages Lenders to Cut Deposit Rates
Beijing has required banks to lower businesses’ borrowing costs to offset the impact of the Covid-19 pandemic, putting pressure on lenders’ finances
· Shanghai Gives Green Light for Key Manufacturers to Set Up Production Bubbles
Total of 666 companies can start work under ‘closed-loop management,’ including in automotive, medical and chipmaking sectors
· Digital Yuan Isn’t a Dollar Replacement, Zhou Xiaochuan Says
Ex-PBOC chief’s remarks come amid speculation about whether e-CNY could help Russia cope with sanctions
· Didi Says It Won’t List Elsewhere Until After It Leaves New York
The Chinese ride-hailing giant cites ongoing government cybersecurity review for the delay, throwing cold water on the notion that its shares soon might be trading in Hong Kong
· China Eastern Puts Boeing Model From March Crash Back in the Sky
Airline says it has gradually resumed flying its fleet of nearly 90 737-800s with the exception of those bought around the same time as the crashed jetliner
· Cover Story: The Disrupted Lifelines of the Shanghai Outbreak
How the city’s Covid flare-up is throwing a wrench into the gears of China’s business engine as 25 million residents struggle to meet basic needs
· China Likely to Offer Further Aid to Logistics Sector, Vice Finance Minister Says
Liao Min says he expects more supportive policies to be announced to aid in recovery of the Covid-hit industry
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This article was generated by Caixin Automation.
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