China’s benchmark Shanghai Composite Index (000001.SH) lost 0.05% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.54%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.58% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.04%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· How a Global Shortage Turned Into a Shipping Container Glut
Amid pandemic disruptions, China’s dominant container-making industry dialed up production only to create vast piles of empties at ports as demand suddenly dried up
· Huawei Spinoff Honor Takes on Apple in Europe
Chinese smartphone giant gears up to compete in the premium segment with its Magic5 series of devices
· Corruption Charges Filed Against Former China Merchants Bank President
Year-long probe of Tian Huiyu results in allegations of taking an ‘extremely huge amount’ of bribes, insider trading and abuse of power
· China’s Local Officials Balk at Releasing Pre-Sale Funds to Developers
The program, launched late last year, has failed to take off as many local governments charged with implementation worry they’ll be throwing good money after bad, industry sources say
· China’s Richest Woman Takes Father’s Seat at Head of Country Garden’s Board
Yang Huiyan has been appointed chairperson of one of China’s largest property developers, succeeding the company’s retiring founder, Yeung Kwok Keung
· Beijing Court Battle Puts Spotlight on China’s Carbon Emissions Trading Legal Framework
A power generation company is suing an environment protection firm for reneging on a carbon credits deal, the first such case that’s taking place at a court in the Chinese capital
· In Depth: Why China’s Lithium Firms Have Their Sights Set on Bolivia
The South American country has the world’s largest reserves of the key EV battery raw material, but political and practical obstacles have prevented it from becoming a significant global supplier
· Mercedes-Benz Shifts Into EV Battery Recycling in China
The German carmaker will team up with battery giant CATL and a recycling specialist to extract and reuse key elements from its power cells
· Yunnan Whacks Power Supply for Aluminum Again
Second round of cuts in six months for electricity-hungry key metal will slash total output by 1.9 million tons as dry season saps hydropower
· China Eases Requirement of Negative Preflight Covid Tests for Some Countries
Travelers from nations including New Zealand, South Africa, Malaysia and Cambodia will still have to show a negative rapid antigen test result
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This article was generated by Caixin Automation.
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