China’s benchmark Shanghai Composite Index (000001.SH) lost 0.48% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.27%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.94% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.08%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: 2008 Redux? SVB Collapse Raises Questions About Banking Oversight
Fears of a repeat of the global financial crisis sparks reevaluation of the overall health of the U.S. banking system and prudence of rapid rate hikes
· Weekend Long Read: The Chinese Scholars Taking On Fraud in Academic Journals
In a fight to preserve research integrity, Yang Liying and her team have been publishing an annual list of problematic publications to sound the alarm about misconduct
· China Everbright’s Hong Kong Unit Reports Almost $1 Billion Loss for 2022
The results reverse a profit the previous year as falling global stock markets, rising inflation and tightening monetary policies bite
· China Cosco Unit Takes 25% Stake in New Egyptian Container Port
Cosco Shipping Ports invests in project at south entrance of Suez Canal as conglomerate seeks to expand into emerging markets
· First 10 China Stocks Cleared for Main Board Debuts After IPO Overhaul
Enterprises including Citic Metal, Jiangxi Salt, Zhongzhong Science and Shenzhen CECport will be the first new listings on the main boards since China officially expanded a registration-based IPO system
· U.S. Audit Watchdog to Start New Round of Inspections in Hong Kong
Reviews will involve work of EY, Deloitte, PwC and others in HK and on mainland with officials from CSRC and Finance Ministry assisting
· China’s Institutional Shake-Up Produces New Department to Better Handle Public’s Complaints
The major reform also established a central commission for science and technology and moved the office for Hong Kong and Macao affairs under the party’s Central Committee
· China’s Bond-Feed Turmoil Triggered by Data Monopoly, Compliance Concerns, Sources Say
Regulators ordered money brokers who supply bond prices to service providers to carry out rectification
· Price War Among China’s Automakers Threatens Profitability, Analysts Say
A spate of promotional offers by manufactures to sell vehicles has been spurred by policy changes
· Tech Insider: U.K. Bans TikTok on Government Phones, Baidu Unveils China’s Answer to ChatGPT
LONGi to build $600 million solar panel factory in U.S., Foxconn has $100 million exposure to Silicon Valley Bank
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This article was generated by Caixin Automation.
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