China’s benchmark Shanghai Composite Index (000001.SH) gained 0.12% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.02%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.68% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.26%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Former Nio Electric Car Rival Singulato Goes Bust
Nine-year-old EV startup enters bankruptcy liquidation without delivering any vehicles
· Former Chief of Bank of Beijing Out of Touch as Regulators Probe Dealings
Authorities detain Yan Bingzhu and raid his home after months of rumors that he was a target of investigators, sources say
· China UnionPay More Than Triples Registered Capital to $1.37 Billion
Increase signals better risk controls and enhanced safety and stability for the world’s largest provider of debit cards
· China Clarifies How Businesses Should Account for Data Resources
Finance Ministry’s new rules, taking effect Jan. 1, are part of a government push to expand the digital economy, which accounts for 17% of GDP
· Schroders China Unit Seeks Approval for First Mutual Fund
U.K. asset manager aims to launch a bond fund amid sluggish Chinese mainland stock market
· China-Argentina Currency Swap Poses Risks and Opportunities, Economist Says
The primary concern about the deal is that the other country may default, rather than yuan depreciation, Yu Yongding tells Caixin
· Ex-Provincial Official Gets Life for Bribery and Aiding Crypto Mining
Xiao Yi, former party secretary of Fuzhou in Jiangxi province, helped illegal cryptocurrency operations raise money, as he fiercely promoted the city’s digital economy
· China Tells Japan It Will Take ‘Necessary Measures’ if Nuclear Wastewater Discharge Plan Proceeds
Beijing lodges formal complaint after Tokyo announces it will begin releasing the treated radioactive wastewater into the sea
· Xi Calls for More Cooperation Between China and South Africa
Chinese president meets with South African president on state visit ahead of BRICS summit, where leaders will weigh bloc expansion
· Hong Kong and Macao Ban Some Japanese Food Imports
Chinese special administration regions object to Japan’s plan to start dumping radioactive wastewater from damaged Fukushima nuclear plant
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This article was generated by Caixin Automation.
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