China’s benchmark Shanghai Composite Index (000001.SH) lost 0.16% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.13%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.26% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.09%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Syngenta IPO Back on Hold Over Concerns About Its $9.4 Billion Target, Sources Say
Shanghai bourse calls off this week’s scheduled hearing a day in advance likely over concerns about the size of the ChemChina offering, Caixin learned
· Alibaba Splits Into Six Business Units in Biggest Overhaul
The $220 billion e-commerce colossus will become a holding company and grant management and financing independence to the new enterprises
· GAC Aion Pulls the Plug on Smart Car Collaboration With Huawei
Automaker’s EV unit will develop its own smart car system as Huawei doubles down on a competing business model for automotive partnerships
· Exclusive: Former Exim Bank Executive Pleads Guilty to Taking Bribes
Li Li, known as the ‘godmother’ of China’s shipping industry, was charged with accepting $14.5 million in bribes, sources tell Caixin
· Treat Private Sector Fairly to Boost Investor Confidence, U.S. Business Group Chief Says
U.S.-China Business Council head Craig Allen adds that further opening up markets such as internet services, cloud computing, legal services, media and entertainment would also be welcome
· Tech Insider: Meituan Co-Founder’s Chatbot Quest, Jack Ma Resurfaces
Huawei’s new chip design tool helps it counter U.S. tech curbs, researchers explain how potential malware in Pinduoduo app works
· Premier Reassures That China Remains Committed to Opening Markets
Li Qiang says the country is striving to create a ‘first-class business environment’ for foreign investors
· China’s Cyberspace Watchdog Takes Aim at Slander Against Businesses
The authority looks to curb the malicious spreading of false information to create a better environment for private companies and entrepreneurs
· Saudi Aramco Boosts China Investment With $3.6 Billion Refinery Deal
Sweeping set of strategic cooperation accords locks in Aramco relationship with Rongsheng Petrochemical as Russia mounts challenge to Saudi oil supply role
· Japanese Citizen Accused of Spying in China
The suspect has been subject to ‘criminal compulsory measures,’ Ministry of Foreign Affairs confirms amid reports a Japanese company employee was detained
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This article was generated by Caixin Automation.
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