China’s benchmark Shanghai Composite Index (000001.SH) lost 0.28% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.52%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.71% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.46%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: The Slow-Burning Insurance Crisis Unfolding in the Shadows
Despite government efforts to clean up the industry and improve oversight, the economic slowdown and a new risk-focused regulatory regime are adding to the problems
· Chinese Tech, Media and Telecom Share Sales Shrink by Half
First-half IPOs plunge to 66, raising $11.4 billion, amid a languid Chinese market, consulting group PwC reports
· HKMA Chief Eddie Yue Appointed to Key BIS Role
Head of Hong Kong Monetary Authority will chair Bank for International Settlements’ conferences of emerging market central bank governors
· Graft Busters Expand Corruption Probes of BoComm in Liaoning
Former top officials Liu Xichang and Zhou Baozhi become targets in spreading investigation of ‘rotten to the core’ lending practices
· For Sale Signs on Housing Go Up All Over China’s Megacities
Listings surge in Beijing, Shanghai, Guangzhou and Shenzhen in response to government policy easing to spur the stagnant market
Chinese experts achieve ocean thermal energy breakthrough, Green Electricity Certificates see trading boom, Chinese solar giant plans $200 million U.S. plant
· Shanghai’s State-Owned Assets Chief Investigated
Bai Tinghui, Communist Party chief and director of the city’s State-owned Assets Supervision and Administration Commission is suspected of ‘serious violations of discipline and law’
· China Greenlights First Insurer’s Sales of Perpetual Bonds to Replenish Capital
The approval for Taikang Life could pave the way for other insurance firms to use the instrument to strengthen their balance sheets
· China and Venezuela Agree to Upgrade Official Status
President Xi Jinping and Venezuelan leader Nicolas Maduro say they will elevate their countries’ relationship to an ‘all-weather strategic partnership’
· China Disputes IPhone Ban Reports
There is no ‘law, regulation or policy document that bans the purchase and use’ of foreign-branded handsets, foreign ministry says
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This article was generated by Caixin Automation.
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