China’s benchmark Shanghai Composite Index (000001.SH) lost 0.82% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.88%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.42% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.9%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· U.S. to Increase Tariffs on $18 Billion Worth of Chinese Imports, from EVs to Semiconductors
China’s commerce ministry strongly opposes politicization of trade issues, saying U.S. tariffs imposed for domestic political considerations
· Charles Li’s Micro Connect Rallies Key Employees to Invest in ‘Leading Sheep’ Program
Core frontline employees are being asked to put their money into an investment program that aligns their interests with their company’s
· China’s Credit Contraction Caused by Changes to Banks’ GDP Calculation, Economists Say
The authorities have switched to a method that relies mostly on lenders’ profitability metrics, rather than growth in loans and deposits
· McDonald’s Apologizes Over Reports of China Food Safety Violations
The U.S. burger giant is cooperating with regulators to investigate reports that employees at two outlets used expired ingredients and tampered with expiration labels
· Commentary: What the PBOC’s Trading of Government Bonds Will Mean for Monetary Policy
The central bank plans to directly engage in the secondary market, which will generate complex policy signals, as each transaction could be interpreted as an indication of policy direction
· China Launches First Major Sodium-Ion Battery Energy Storage Station
The facility in Guangxi is the first use of sodium-ion battery technology on a large scale in China, manufacturer says
· China Invites Putin for State Visit
The Russian leader is set to arrive Thursday, China's foreign ministry says
· China Seeks to Eliminate Regulations That Hurt Business Environment
The Ministry of Justice is asking the public for help identifying policies that put certain businesses, especially private companies, at a disadvantage
· In Depth: China’s Weaker Insurers Skip Early Bond Redemptions Amid Growing Financial Stress
Several insurance companies have chosen to pay higher interest rates on their supplementary capital bonds rather than exercise an option to redeem them early, a sign they are facing solvency problems
· Retired Deputy Director at Panda Research Center Caught Up in Graft Probe
The investigation into Zhang Haiqing may be related to his previous experience working in Sichuan province’s Aba prefecture, source says
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This article was generated by Caixin Automation.
