China’s benchmark Shanghai Composite Index (000001.SH) gained 0.38% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.77%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.63% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.57%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· In Depth: How a Liaoning Bank Got Sucked Into the Evergrande Vortex
Shengjing Bank’s biggest shareholder is Evergrande, and authorities are probing $15.5 billion of transactions between the property giant and the regional bank
· Banking Regulator Puts New Emphasis on Governance, Data Management
In first update to seven-year-old bank risk assessment criteria, CBIRC reduces the weight of profitability
· Cosco Unit to Pay $116 Million for Hamburg Terminal Stake
Chinese shipping giant cuts a deal to acquire 35% of a German container operation, expanding its logistics network in Europe
· Ant Group Lending Platform Huabei Resumes Sending Credit Data to PBOC
The online consumer lender takes a step toward complying with rules designed to bring the risk-prone industry into the regulatory fold
Li Ka-Shing sells Shanghai building, Luckin Coffee offers millions to settle lawsuit, Universal Beijing resort opens to public
· China Top Coal Miners Guarantee They'll Provide Enough to Avoid Winter Blackouts
With peak winter season approaching, the government is keen to avoid a repeat of last year’s blackouts amid coal shortages and surging prices
· Top China Metals Companies Busted for Breaking Environmental Pledges
China Nonferrous Metal Mining and China National Gold among those caught mishandling hazardous waste and encroaching on nature reserves
· Xi Says China Will Not Build New Coal-Fired Power Plants Abroad
In an address to the U.N., the president pledges more support to developing countries for green energy
· Scandal-Racked Luckin Coffee Plunged $866 Million Into the Red in 2020
Losses widened 77% in the year the coffee chain’s vast accounting fraud was revealed
· In Depth: How Evergrande Hid Its Debt
The embattled developer has shown itself to be a master at hiding debt, employing methods such as debt disguised as equity and acquisitions that have yet to be paid for
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This article was generated by Caixin Automation.
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