China’s benchmark Shanghai Composite Index (000001.SH) lost 0.45% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.47%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.42% 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:
· China Merchants Bank Expected to Take Over Tomorrow Holding’s Former Trust Unit
CMB deal to acquire New Times Trust to be ‘announced soon’, employee confirms
· Former Energy Executive Sentenced to Life for Taking $13.8 Million Bribes
Li Dong deprived of political rights and had all personal property confiscated after being convicted of bribery charges
· Ping An Unveils $3.5 Billion Convertible Bond Issuance to Fuel Future Growth
Insurance group aims to use proceeds to expand into finance, healthcare and the elderly care sectors
· In Depth: Battle for China’s Deposits Pits Banks Against Regulators
While lenders want to raise savings rates to attract funds, regulators want to lower them to curtail the amount of idle cash in the financial system and protect banking profits
· East China City Shows How to Deal With Glut of Unsold Homes
Shandong province’s capital Jinan managed to reduce its supply of unused housing last year with help from a PBOC pilot program that supports converting residential properties into rentals
· Huawei Sold Off Aito Trademarks, Patents to Comply With Rule, Executive Says
The regulation, previously loosely enforced, requires an auto brand be owned by its manufacturer
· PBOC Reaffirms Commitment to Stabilizing Bond Market as Rally Persists
Central bank has plans to sell government bonds and conduct temporary overnight repos or reverse repos to cool soaring prices
Report predicts most NEV brands will vanish by 2030, Baidu robotaxi accident shines spotlight on safety of unmanned cars
· China’s Audit Office Exposes $34 Million Scams Selling Government Data
Seven bodies cited as illegally charging for external access to public data without authorization
· Bromate Levels in Ganten and Nongfu Spring Bottled Water Hit E.U. Limit
Hong Kong Consumer Council warns of potential health risks, but levels are still below WHO standards
Click here to read more of the latest news.
This article was generated by Caixin Automation.
