China’s benchmark Shanghai Composite Index (000001.SH) lost 0.14% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.24%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.25% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.2%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Opinion: Lessons for China From the Global Stock Rout
The essence of the market’s volatility lies in its price discovery function, which should not hinder how fast the Chinese financial system opens up
· Cover Story: Fixing China’s Trade Imbalance Needs a Home Remedy
The growing trade surplus underscores structural issues within China’s economy, which experts say can be fixed by intensified government efforts to boost domestic consumption
· Weekend Long Read: How Fake Antique Livestreams Prey on China’s Elderly
In recent months, scams targeting the elderly with counterfeit antiques like coins, pottery and artwork have surged
· Taiwan Container Ship Rocked by Explosion at Ningbo Port
Operated by Yang Ming Marine, the vessel was believed to be carrying dangerous materials, with the blast occurring in one of the containers on board
· U.S. Tech Giant Intel Unveils New Discrete Graphics Processing Unit for Chinese EVs
The Intel Arc Graphics for Automotive, could be on sale as early as next year as the company seeks to strengthen its hold on automotive chips in the world’s largest market
· Criminal Charges Handed to 49 Zhongzhi Employees after Dramatic Downfall
Charges come after Chinese financial conglomerate’s collapse with a capital shortfall of up to $36.4 billion
· Harvest Fund’s Chairman Resigns After Coming Under Investigation
Beijing-based Harvest said probe was related to personal reasons and not to the company
· Beijing Hunts Down Bond Trading Rule-Breakers Amid Bubble Fears
A handful of small and midsize lenders are among the targets suspected of misconduct including price manipulation
· China Corpse-Stealing Ring Busted by Police, Lawyer Claims
Companies based in Shanxi and Sichuan stole or illegally purchased more than 4,000 human cadavers to produce bone implant materials, according to lawyer from Beijing Yongzhe Law Firm citing a purported police document
· Foreign Investors Stay Cautious About China Stocks, UBS Report Shows
Holdings of Chinese stocks by 800 active institutional funds tracked by the Swiss firm were broadly unchanged for the April-to-June period
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This article was generated by Caixin Automation.
