China’s benchmark Shanghai Composite Index (000001.SH) lost 0.43% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.6%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.17% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.77%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Investigator at China’s Top Graft Buster Turns Himself In
Probe of Wang Youbin may be related to corruption case of China Development Bank’s Zhou Qingyu, sources say, amid grafter busters’ campaign against ‘two-faced people’
· Coal Mine Fire Kills 16 at State-Owned Mine in Guizhou
Disaster initially found to involve a conveyor belt at a unit of Guizhou Energy Group that was penalized for safety violations several times in the past five years
· Exclusive: Former Evergrande CEO and CFO Face Probe, Sources Say
Xia Haijun and Pan Darong were both in charge of the property giant’s financial operations, and resigned last year in the wake of a bank deposit scandal
· Opinion: How to Break the Deadlock on China’s Real Estate Market
When the real estate policy toolbox is nearly exhausted, it is necessary to carefully optimize approaches
· Opinion: Essential Questions for Investing in Post-Pandemic China
Before putting money to work, investors should consider key questions such as why stocks are trending down despite policy support and why monetary easing has led to deflation
· China, Syria Deepen Ties With ‘Strategic Partnership’
President Xi Jinping met Syrian leader Bashar al-Assad in Hangzhou ahead of the opening of 19th Asian Games — the latter’s first trip to China in nearly two decades
· Cover Story: Fraudulent Fundraising to Aid Sick Children Tarnishes China’s Charity Sector
Program for needy families spotlights gaps in nation’s health care coverage
· Huawei Founder Confident Company Will Prevail Despite ‘Mounting Difficulties’
Ren Zhengfei says China will develop technological standards that surpass those of U.S. as company debuts phone said to be powered by self-developed chip amid sanctions
· South Korea Pleads With U.S. on China Chip Curbs as Expiry of Waiver Nears
Seoul’s Minister of Trade Bang Moon-kyu made the plea as SK Hynix and Samsung fret they may be cut off from crucial U.S. chipmaking equipment
· Weekend Long Read: China’s Chipmaking Breakthrough Too Good to Be True
Science writer Wang Jie sets the record straight on much-talked-about online reports that Chinese scientists have independently developed the most advanced tech for producing semiconductors
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