China’s benchmark Shanghai Composite Index (000001.SH) gained 0.19% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.49%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.56% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.39%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Cabinet Vows Stronger Support for Economy
State Council promises tax rebates and prudent monetary policy in continuation of government actions to stabilize capital markets and bolster growth following stock market sell-off
· Former Supreme People’s Court Vice President Under Investigation
Shen Deyong, high-profile legal influencer and CPPCC standing committee member, taken away by Communist Party’s top anti-graft watchdog
· Update: Plane Carrying 132 People Crashes in South China
China Eastern Airlines flight goes down in Teng county in the Guangxi Zhuang autonomous region. The number of casualties remains unknown
· Trending in China: Parody Offers Outlet for Pandemic Angst
Netizens are looking to classic literature and popular works of culture for some respite from the frustrations of tough Covid-19 restrictions
· In Depth: Chinese Stocks’ Wild Ride
As the war in Ukraine has fueled market volatility and measures to contain Covid-19 outbreaks across China have disrupted the economy, investors remain on edge
· Executives From Luxury Villa Developer Hauled In by Authorities
Vice President Huang Xi and Vice President Lin Wenhua of the Fujian province-based company have been taken for questioning
· China Warns of ‘Unimaginable’ Fallout if Ukraine-Like Crisis Happened in Asia
Vice Foreign Minister Le Yucheng says that region could be pushed into ‘an abyss’ resulting from Washington’s Indo-Pacific strategy that is ‘as dangerous as the NATO strategy of eastward expansion in Europe’
· Private Equity Giant Hillhouse Quashes Loss Speculation as Stocks Plunge
Firm says its dollar funds’ total position in U.S. shares only amounted to $6 billion, so rumored $30 billion loss would be ‘impossible’
· South China Province Plans to Set Up International Carbon Trading Center
The holiday destination city of Sanya, Hainan, has been selected as a potential site for exchange, slated to open in the second half of this year
· A Tale of Three Cities Fighting Omicron Outbreaks
Shanghai steps up control with precision; Shenzhen tries to strike a balance; and Hong Kong conducts a painful turnaround
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This article was generated by Caixin Automation.
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