China’s benchmark Shanghai Composite Index (000001.SH) gained 0.09% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.44%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.56% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.67%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Hong Kong Lawmaker Regina Ip Calls for Public Not to Overreact to Cathay Pacific Incident
Chinese people from mainland and Hong Kong ‘should understand and tolerate each other,’ Executive Council Convenor Regina Ip says in social media post
· China Fines Two Chinese Drug Ingredient Suppliers $45.4 Million
Grand Pharmaceutical and Wuhan Huihai Medicine created a monopoly for ingredients of emergency medicines norepinephrine and epinephrine, SAMR finds
· Chinese-Developed C919 Completes Maiden Commercial Flight
Manufacturer Comac designed the homegrown airliner as a would-be competitor to Boeing and Airbus’s single-aisle jets
· Eastern Province Eases Upper Age Limit for Construction Workers Amid Labor Shortage
Jiangsu will allow men up to five years above the ceiling — and 10 for women — to continue working on construction sites, but capped the number at 10% of a project’s workforce
· Fallen Tomorrow Holding’s Trust Firm Declared Bankrupt
A court in Southwest China ruled that New China Trust’s assets weren’t able to cover all of its liabilities
· China Rolls Out Its First Four-Valent Covid Vaccine as Infections Spike
The Sinocelltech-developed jab against the alpha, beta, delta and omicron variants is being offered in Beijing and several other cities
· China Plans First Crewed Moon Landing by 2030
The country also aims to master short-term habitation and human-machine exploration on the lunar surface by the same date, China Manned Space Engineering Office says
· Cover Story: China’s Tobacco Monopoly Is Swept Up in Corruption Probes
Investigations have ensnared nearly 20 senior officials in an industry that supports the habits of 300 million smokers
· China Battery Maker CALB Rescinds Job Offers to Hundreds of Fresh Graduates, Sources Say
The move comes amid belt tightening due to shifting market demand in the electric vehicle market
· Tsinghua Unisplendour Finalizes Plan for $3.5 Billion Buyout of Hewlett Packard’s Stake in JV
New H3C Technologies, which is the exclusive provider of HPE servers, storage and related IT services in China, will become a solely-owned unit of Unigroup
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This article was generated by Caixin Automation.
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