China’s benchmark Shanghai Composite Index (000001.SH) lost 0.39% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 1.33%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.39% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.76%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· More Chinese Labs Run Out of Cash as Government Payments Fall Behind
Covid testing supplier in Xuchang is the latest to suspend services temporarily over unpaid bills amid repeated rounds of mass screening for pandemic control
· Country Garden Pulls Out of S&P Rating Following Downgrade
Property development giant — which hasn’t defaulted on debt — blasts S&P over score that it says doesn’t fairly reflect its true credit status
· In Depth: Battle Begins for China’s Private Pension Funds
Institutions are rushing to bring investment products to market in wake of government plan to grow the underdeveloped sector
· Former Provincial Vice Governor Convicted of Graft
Liu Guoqiang accepted bribes worth more than $48 million while in leadership positions in Liaoning
· BYD Launches Luxury EV Line in Challenge to High-End Foreign Brands
The Chinese carmaker joins its peers in efforts to impress wealthy domestic buyers who have long preferred the likes of BMW and Mercedes-Benz
· Li Keqiang Meets Asian Leaders in Cambodia
During his trip, China’s premier will discuss regional cooperation with representatives from Southeast Asia, South Korea and Japan and pay an official visit to the host nation
· China’s Super Rich Are Poorer, and There Are Fewer of Them
Economic vicissitudes of war, pandemic and slumping stock and real estate markets shrink fortunes of billionaires on Hurun Rich List
· Analysis: Will Scholz’s Visit Help BioNTech’s Covid Shot in China?
World’s most widely used mRNA vaccine languishes unapproved in China as Fosun Pharma and BioNTech see window of opportunity closing
· Gap Sells Money-Losing China Business to Baozun for $50 million
Chinese e-commerce services provider, a Gap partner since 2018, will get rights to design, make and sell Gap products in China
· Tech Insider: Ceramics Factories Shift to Lithium, Apple Warns of Shipment Delays
China’s homegrown GPS alternative now ships in almost all domestic smartphones, Saudi wealth fund ties up with Foxconn on EVs
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This article was generated by Caixin Automation.
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