China’s benchmark Shanghai Composite Index (000001.SH) gained 0.22% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.5%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.19% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.37%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China Looks to Saudi Arabia Amid Shifting Sands in U.S. Economic Ties
A recent flurry of political and business exchanges represents Beijing’s highest-level diplomatic engagement with Arab nations since the founding of the People’s Republic of China
· Beijing Apartment of Disgraced Former Justice Minister to Go Under the Hammer
The property, valued at almost $4 million in the heart of the capital and up for auction at the end of the month, was previously owned by Fu Zhenghua, Caixin has learned
· Former Senior China Graft Buster Appointed to New Public Complaints Agency
Wu Hansheng becomes first minister named to the Social Work Department of the party’s Central Committee
· Central Bank Slaps Hefty Fines on Three Major Financial Institutions
Ping An Bank, Postal Savings Bank and PICC Property and Casualty penalized for violations including customer protection, data collection and risk management
· Chinese Premier Calls for Cooperation in Meeting With U.S. Treasury Chief
Li Qiang calls China’s development ‘an opportunity rather than a challenge’ for the U.S. while Janet Yellen rejects economic decoupling
· Ant Group Hit With $984 Million Fine as Years-Long Overhaul Wraps Up
The fintech giant was stung for violations in areas including financial consumer protection, business with banks and insurers, payment and settlement, anti-money laundering, and sales of investment funds
· Court Rules Primavera Wronged Investors With Ant Share Sale
Shenzhen court says PE firm founded by financier Fred Hu should hand over all its gains from the stake sale so they can be returned to investors
· Ex-Chinese Central Banker Probed for Suspected Graft
Zhang Jianjun, who served as president of the PBOC’s Shenzhen branch, is under investigation for suspected severe violations of law and Communist Party discipline
· China Drafts Rules to Make Online Platforms More Accountable for Cyberbullying
Cyberspace Administration seeks public comment on tougher oversight as recent cases have exposed slow and ineffectual management of abusive content
· China’s Energy Security Worries Shouldn’t Hinder Climate Goals, IEA Chief Says
International Energy Agency Executive Director Fatih Birol says China should rethink expanding investment in coal power due to low utilization
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This article was generated by Caixin Automation.
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