China’s benchmark Shanghai Composite Index (000001.SH) lost 0.48% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.82%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.42% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.31%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: Top Chinese Digital Banks Report More Bad Loans but Higher Earnings
Ant-backed MYbank and Tencent-backed WeBank disclose higher nonperforming loan ratios amid the pandemic yet liquidity metrics remain healthy
· Bank of Shanghai Fined $14.3 Million For Forex Violations
State Administration of Foreign Exchange finds series of missteps including unauthorized transactions by branch banks and illegal sales of wealth management produces
· China’s Holiday Housing Sales Fall 22% Short of Pre-Covid Levels
While travel is back to normal, the real estate sector lost its first-quarter momentum, data from top urban markets suggest
· Opinion: Nobody Wins in China’s Travel Mania
Overcrowding at tourist sites over the Labor Day break makes the case for companies to let workers use their paid time off as they wish, and for schools to introduce spring and autumn breaks
· China’s Graft Watchdog Investigates Ex-Securities Regulator
Zhu Congjiu, a former CSRC official, is suspected of corruption
· Trending in China: About Two Dozen Women Accuse Prominent Screenwriter of Sexual Harassment
The allegations have caused the 52-year-old, a prominent name in China’s literary and artistic community, to forfeit business partnerships
· U.S. Permits More Flights by Chinese Carriers
China’s airlines can fly 12 weekly round-trips to America, up from the current eight, U.S. Department of Transportation says
· China’s Factory Activity Unexpectedly Contracts in April
Decline in purchasing managers’ index reflects weak global demand and suggests the recovery is still lopsided with consumption outpacing production
· Hardly Anybody in China Stayed Home for the Holidays
Travel roars back to pre-pandemic levels as hundreds of millions take trains, planes and automobiles to Disneyland, the mountains, big cities and small towns
· In Depth: Why Time Banks Haven’t Caught On in China
Programs that allow people to accumulate credits for helping out seniors now that can be spent for volunteer assistance later face a host of obstacles
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This article was generated by Caixin Automation.
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