China’s benchmark Shanghai Composite Index (000001.SH) lost 1.31% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 2.18%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 3.33% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.62%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Polestar Forms Venture With Xingji Meizu to Build Auto Operating System
The new technology for in-car apps will go into cars sold in China
· Ex-PBOC Deputy Head Arrested on Suspicion of Bribery
Fan Yifei now faces criminal investigations, China’s top prosecutor says
· Former Top Grain Regulator Receives 15-year Sentence for Corruption
Xu Ming, 65, was accused of taking more than $7.3 million in bribes
· Update: China and U.S. Move to Ratchet Down Tensions
President Xi Jinping hosts U.S. Secretary of State Antony Blinken in hopes of thawing relations over two days of talks in Beijing
· Alibaba Boss Daniel Zhang to Step Down With Co-Founders to Take the Reins
Joseph Tsai will succeed Zhang as chairman in September, and Eddie Wu will take over as CEO
· Chinese E-Commerce Giants Stay Mum About Sales Figures for 618 Shopping Festival
The conspicuous silence about the annual shopping event is another sign that the recovery in consumer spending has been slower than anticipated
· Premier Li Tells German Businesses Non-Cooperation Between China and Europe Is the Biggest Risk
Chinese and German businesses can play a greater role in fostering bilateral relations, Li Qiang says, as the EU weighs whether it is too dependant on China
· Tech Insider: Alibaba’s Surprise CEO Shake-Up, Kuaishou and Taobao Score With Messi
Li Auto preps launch of city assisted-driving system, EU toughens stance on Huawei as China tensions rise
· Cathay Pacific to Hire More Mandarin-Speaking Cabin Crew
Passenger complaints of bias against non-English speakers on flight last month also lead Hong Kong airline to overhaul staff training
· HKEX Launches Yuan Counter for Trading of Hong Kong-Listed Shares
Turnover of the first batch of 24 approved stocks reaches $22.9 million on the first day as mainland investors can buy HKEX shares using yuan
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
