China’s benchmark Shanghai Composite Index (000001.SH) gained 0.31% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.61%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.38% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.2%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Henan Rural Banking Scandal Claims Another Senior Official
Wu Jinpeng, former deputy chief of Henan Rural Credit Union, turns himself in to authorities investigating multibillion-dollar swindle
· Caixin Explains: Why Some Credit Suisse Bondholders Got Wiped Out and Shareholders Didn’t
Swiss authorities ranked holders of $17 billion of additional tier 1 bonds behind equity holders in an unusual reversal of payment hierarchy, which U.K. and EU quickly repudiated
· Tech Insider: XPeng Warns of Plunging Revenue, Taiwan Chip Exports Sputter
Former China chip giant chief charged with corruption, business-software makers suffer sell-off on news of Huawei’s entrance
· In Depth: Why China’s Bond Traders Got Cut Off From the Data They Needed
Financial regulators stood at the center of last week’s tumultuous suspension of services that provide crucial price information to traders
· Why Empty Containers Piled Up at Chinese Ports
Glut that emerged in recent months was due to a confluence of factors mostly related to the Covid-19 pandemic, head of customs bureau says
· China Imports of Australian Coal Surge After Embargo Lifted
Purchases of the dirty fuel jumped 21% to more than 207,000 tons in February as trade tensions between two countries ease
· Former Google China Chief Joins ChatGPT Mania With New AI Venture
Kai-Fu Lee dubbed the startup Project AI 2.0, which is the seventh company incubated by his early-stage VC firm
· Construction Restarts at Chinese-Backed Simandou Iron Ore Mine
Work on the West African mine, said to hold the world’s largest untapped deposit of high-grade iron ore, resumed after Guinean officials were finally able to get shareholders to move forward
· Former Chief of Chip Giant Unigroup Charged With Corruption
Zhao Weiguo, arrested in July, treated the state-owned enterprise as his personal fiefdom and handed out goodies to friends and relatives, graft busters say
· A Year Later, China Still Tries to Explain Plane's Nosedive
Aviation authorities cite ‘complexity and rarity’ of disaster in update on probe of flight MU5735
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This article was generated by Caixin Automation.
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