China’s benchmark Shanghai Composite Index (000001.SH) lost 0.49% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.78%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) ended nearly flat for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.08%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Beijing Appoints New Sci-Tech Vice Minister
Long Teng, current president of the Beijing Institute of Technology, was appointed to the position Thursday, alongside other promotions including two new assistant public security ministers
· U.S. Airlines Urge Officials to Block Additional China Flights
The countries have been slowly rebuilding the number of flights between them, but they’re still well below the average 340 per week prior to the pandemic
· Former Fire and Rescue Deputy Chief Pleads Guilty to Taking Over $5 Million in Bribes
Zhang Fusheng exploited his positions in the emergency management and public security ministries to help others with project contracting and career promotion over a 25-year period
· Smart Service Provider Terminus Raises $276 Million to Fund LLM Applications
The money raised will be used to enhance the research and development of AIoT and expand the business into the global market
· Huawei Relaunch S7 With Cheaper Prices, Upgraded Specifications
Price cuts and specification upgrades as Huawei unveils its Luxeed S7 electric sedan made in conjunction with Chery Automobile Co.
· BYD Takes the Lead in China NEV Exports with 130% Growth in First Quarter
NEV pioneer sends its sales team abroad with plans for factories in Thailand, Brazil, Hungary and elsewhere
· GAC Aion Joins Race for Level 3 Automatic Driving Road Test
New energy carmaker applies to joins the select group with permits to test hands-off driving on selected urban roads
· Beijing Freezes China Assets of U.S. Arms-Makers Over Taiwan Sales
General Atomics Aeronautical Systems and General Dynamics Land Systems will have their assets frozen after the Biden administration approved additional weapons for the island
Home-grown nuclear reactor gets connected to the grid, Beijing further spurs growth of green tech with subsidies, CATL unveils new energy storage system
· New Nuclear Reactor Connected to South China Grid
The Hualong One is expected to start operating in the first half of this year as country rapidly expands its nuclear power fleet
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This article was generated by Caixin Automation.
