China’s benchmark Shanghai Composite Index (000001.SH) lost 0.16% on Wednesday, while the Shenzhen Component Index (399001.SZ) closed nearly flat.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.92% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) ended nearly flat.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Ex-Deputy Governor of Guizhou Accused of Reckless Debt Borrowing
Li Zaiyong, under investigation by graft busters, gets kicked out of the Communist Party and expelled from public office
· Veteran Securities Regulator Expelled From Communist Party
Zhu Congjiu, former vice governor of Zhejiang province, was ‘extremely greedy’ and accepted bribes and abused his power, investigators say
· Cuba Seeks Direct Flights From China as Soon as Next Year
Prime Minister Manuel Marrero on week-long China visit pushes to expand Cuban tourism with help from China’s travel industry
· China Should Avoid a Real Estate ‘Hard Landing,’ Former Chongqing Mayor Says
Huang Qifan, now with innovation and development institute, argues government should expand affordable housing and put more money in consumers’ pockets
· China to Update State Secrets Law Amid Increase in Spying
Proposed revision of the Law on Guarding State Secrets includes putting the party’s central secrecy leadership body in charge of formulating policy
· Tech Insider: Apple CEO Tries to Calm Investors, Huawei Chip Chosen to Power Mega AI Platform
Qualcomm isn’t sweating Huawei-developed chips, Ant Group cleared to roll out AI services
· He Lifeng Is Running China’s Two Top New Financial Overseers
Vice premier serves as director of the general office of the central financial commission and secretary of the central financial work commission, state media reveals
· In Depth: China’s Ambition to Build a Financial Powerhouse
Top-level conference puts Communist Party front and center as China takes on slowing growth, rising government debt and slumping property and stock markets
· Aramco Ups Investment in Refining and Petrochemical Facilities in China
The country is crucial for the Saudi oil giant to create ‘new pathways for growth,’ senior executive says
· Saudi Arabia Looks to China to Help Build Up Its Renewables Industry
The Gulf state has huge demand for solar panels, wind turbines and batteries, and Chinese companies are the natural choice to supply both technology and expertise, Saudi Public Investment Fund executive says
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