China’s benchmark Shanghai Composite Index (000001.SH) lost 1.4% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 2.2%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.38% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.53%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cambodia and Myanmar Race to Become the Next Apparel Manufacturing Hub
Dodging U.S. tariffs and rising costs at home, Chinese manufacturers weigh the risks of pouring money into new Southeast Asia factories
· Former ICBC Banker Pleads Guilty to Taking $15 Million of Bribes
Lu Jinwen of bank’s Guangdong branch approved $104.6 million of illegal loans, prosecutors find in sweeping anti-corruption crackdown
· Evergrande Says HK Investor’s Lawsuit Won’t Affect Debt Restructuring Timetable
Lin Ho Man’s foreign-registered company filed suit Friday asking Hong Kong’s high court to liquidate the troubled Chinese real estate developer
· Hong Kong and China Mainland to Launch ETF Connect July 4
System will enable investors in Hong Kong, Shenzhen and Shanghai to buy and sell exchange-traded funds in each other’s markets
· Tech Insider: Auto Chip Crunch Drags On, Alibaba to Test Driverless Truck
AI chip specialist Horizon Robotics secures strategic investment; Cybersecurity watchdog probes China’s largest online academic library
· Analysis: More Chinese Cities Drop Regular Covid Testing as Cost Concerns Mount
Hefei in Anhui province is among the latest to join a growing list of cities rolling back costly testing campaigns
· Revised Sports Law Ushers in New Arbitration System for China’s Athletes
Experts say the system can help avoid long-running disputes that can derail careers
· China Sees Rebound in Travel, Leisure Sectors as Covid-19 Lockdowns End
Recovery in consumer spending in June may not be enough to prevent GDP growth slowdown in second quarter
· Law Enforcement Veteran Appointed Minister of Public Security
Wang Xiaohong, 64, was also named deputy secretary of the party’s Central Political and Legal Affairs Commission, an organization overseeing the country’s vast public security apparatus
· China’s Fourth 5G Service Launches, With a Tough Road Ahead
State-owned China Radio & Television will be competing against the country’s three telecom majors, one of whom helps operate its network
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This article was generated by Caixin Automation.
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