China’s benchmark Shanghai Composite Index (000001.SH) lost 0.34% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.5%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.88% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.02%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Mudslide in Northwest China Kills 21
Six remain missing after heavy rains and flash flooding hit the city of Xi’an in Shaanxi province Friday
· Cover Story: Anti-Corruption Storm Sweeps China’s Health-Care Industry
Bribery and kickbacks thrive in a setting where doctors are underpaid, hospital finances are under pressure and suppliers spend vast amounts to compete for sales, experts say
· Zhongzhi-Linked Trust Company Fails to Pay Out Maturing Products
Two customers of Zhongrong International Trust fear they may not be able to recoup tens of millions spent on the products
· Two China Lithium Mines Attract Skyhigh Bids for Exploration Rights
Bids for the five-year rights to explore the mines in Sichuan province spiral hundreds of times the starting price
· Weekend Long Read: How Zhongzhi Became the Latest Chinese Financial Holding Group to Fall
For years, the conglomerate held a reputation as one of the premier private financial holding groups in China, but its problems escalated quickly after the sudden death of its founder, Xie Zhikun, in late 2021
· Chinese Automakers Motor Into Indonesia for New Growth
Great Wall Motor and Hozon Auto make debuts at Indonesia International Motor Show this week and push to set up local factories
· Hong Kong, Mainland Stock Connect Expands to Include Block Trades
Accord will ease large deals in further expansion of programs enabling investors in Hong Kong and on the mainland mutual access to China’s bourses
· JuneYao Group to Offload Remaining Stake in China Eastern
The parent of Juneyao Airlines plans to exit the state-owned carrier within six months, marking an end to a cross-shareholding partnership aimed at boosting Shanghai as a global aviation hub
· Falsifying Carbon Emissions Data Is Now a Crime in China
Those found to have knowingly falsified greenhouse emissions tests or issued fake report verifications can now be sentenced to up to 10 years in prison
· Tech Insider: Regional Automaker’s Dashed EV Dreams, Alibaba’s Comeback
E-commerce giants rush to roll out ‘full-service’ model for merchants, TSMC to build $11 billion German plant with fellow chipmakers
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This article was generated by Caixin Automation.
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