China’s benchmark Shanghai Composite Index (000001.SH) lost 0.96% on Friday, while the Shenzhen Component Index (399001.SZ) fell 1.37%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.56% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.55%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Exclusive: China Everbright Chooses Chief of World’s No. 2 Bank as Its New Chair
Wang Jiang was named China Construction Bank president just over a year ago
· Global Coal Prices Surge Nearly 30% in a Week on Russia-Ukraine War
Conflict and trade sanctions disrupt supplies of oil and natural gas from Russia, driving up demand for coal as an energy alternative
· Video Streamer Bilibili Posts Wider Loss as Costs Mount
Red ink more than doubled in 2021 on heavier spending to recruit more users in a more competitive and tightly regulated market
· Over 3,000 Chinese Nationals Evacuated From Ukraine
Foreign Ministry reports that Chinese embassies in the region arranged the exit of more than half of those who asked to leave
· Automaker Chief Proposes Extending China’s NEV Subsidies
GAC’s Zeng Qinghong, a delegate to China’s legislature, pitches another year or two of payments to ensure sustainable development of the market
· GDP Target, Budget Deficit, Housing Controls: What to Watch for at China’s ‘Two Sessions’
Premier Li Keqiang will on Saturday unveil the government’s plans for economic and social development in 2022
· Tip Sheet: Hot Pot Heavyweight Haidilao Gets a New CEO After Warning of Huge Losses
Chief operating officer Yang Lijuan, who has been leading the firm’s downsizing strategy, has been tapped to replace founder Zhang Yong for the top job
· Chinese Local Governments Unveil Plans to Implement RCEP Mega Free Trade Pact
Governments of Yunnan and Jilin provinces, as well as Shanghai, pledge to improve the business environment and speed up development of cross-border e-commerce industry
· Human Trafficking Remains in Spotlight, as Case of Caged Woman Circulates Online
As authorities investigate, the public remain unclear about the woman’s identity despite revelations of earlier DNA testing and livestreaming sessions circulating online
· South China City Tightens Covid Curbs as Cases Rise
Shenzhen requires residents to present negative test results before taking the subway or entering some communities as the city seeks to contain a growing outbreak
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This article was generated by Caixin Automation.
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