China’s benchmark Shanghai Composite Index (000001.SH) lost 0.4% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.31%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.46% 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:
· Sanofi Halts Flu Shots in China Amid Concerns of Declining Potency
Suspension of vaccines is a ‘preventative measure’ while Sanofi investigates the potency problem
· Death Penalty Upheld for Former Official in China’s Largest Corruption Case
Inner Mongolian bureaucrat amassed $421 million in bribes and other illegal gains, court told
· BYD Partners Huawei to Launch Luxury SUV With Self-Driving Features
BYD to launch SUV with Huawei’s Qiankun autonomous driving system in third quarter
· Inner Mongolia Region Is Struggling to Fund Basic Services as Debt Crisis Looms
Alukerqin Banner warns it is at significant risk of credit default as it runs out of money
· China May Surpass 2025 New-Energy Storage Goal as Regions Plan Capacity Boost
As of July, 26 provinces and cities had laid out plans to bring their total installed capacity to 86.6 gigawatts by 2025
· Standard Chartered Names New China CEO
Jean Lu, a former deputy CEO of the bank’s China subsidiary, is replacing Jerry Zhang, who has been appointed global co-head of financial institutions coverage
· PetroChina’s Strong Drilling Leads to Record First Half
China’s largest oil and gas driller said output rose to 905.5 million barrels of oil equivalent in the period
· China Auto Roundup: Canada to Hit China With Tariffs on EVs, Huawei Sells Stake in Smart Car Unit
Price war and weak demand leave half of China’s car dealers in the red, Toyota-backed fuel cell plant kicks off production in Beijing
· Photo Essay: Struggle to Survive in China’s Ride-Hailing Industry
As China’s economic speedbumps have driven more people into the sector, it’s becoming ever more challenging to make ends meet
· China Pilots Government-Funded Housing Renovation System in 22 Cities
The system is to ensure adequate funding to maintain the safety of aging housing stock
Click here to read more of the latest news.
This article was generated by Caixin Automation.
