China’s benchmark Shanghai Composite Index (000001.SH) lost 0.46% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.32%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.08% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.23%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Shanghai Financial Court Explains its Key Role on STAR Market Anniversary
Court releases details of five cases highlighting its responsibility in ensuring a fair and efficient market
· Former Religious Affairs Head Cui Maohu Sentenced to 11 Years for Bribery
Cui Maohu was also fined $206,300 for taking more than $1.38 million in bribes over 16 years
· In Depth: Electric Cars Are Draining the Batteries of China’s Insurers
Insuring EVs is costing money, as strict rules mean it’s difficult to hike premiums to a profitable level — for now at least
· Analysis: China’s Shifting Approach to Monetary Policy Regulation
The PBOC now guides benchmark loan rates by cutting the seven-day reverse repo rate rather than the medium-term lending facility rate
· Chinese Beverage Heir’s Resignation U-Turn Shows Corporate Complexities at Wahaha
Zong Fuli, daughter of late tycoon Zong Qinghou, has gone back to the company her father founded just days after quitting due to a conflict with an undisclosed shareholder
· Plenum Explained: China to Combat Cross-Border Corruption, Improve Constitutional Review
The plan is part of a five-year legal reform effort that also includes graft-busters taking ‘stronger steps to handle false accusations’
· Flying-Car Startup Moves Closer to Bringing Beijing-Favored Tech to Market
Regulator accepts applications from two EHang subsidiaries to operate pilotless electric vertical takeoff and landing vehicles in China
· Communist Party Creates Financial Graft-Busting Committee
The move comes as the party consolidates its role in leading China's financial sector
· Buffett’s Moves on BYD Are Now Secret After Stake Falls Below 5%
The billionaire investment guru has seen a 2,000% gain from the bet he made on the Chinese EV maker 15 years ago
· Finance Movers and Shakers: China’s New Vice Finance Minister, Ex-Policy Banker’s $3 Million Bribery
Highlights of the past fortnight include: Sovereign wealth fund set to get new VP, Taiping Life Insurance former executive pleads guilty in massive graft case
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This article was generated by Caixin Automation.
