China’s benchmark Shanghai Composite Index (000001.SH) gained 0.39% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.32%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.77% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.07%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Three Things to Know About China’s New Financial Commissions
Two new commissions under the supervision of the ruling Communist Party have kept a low profile. Here’s what we know so far
· Cover Story: China’s Effort to Move Mountain of ‘Hidden Debt’ Faces Uphill Climb
Local governments’ invisible debt could be as high as almost $10 trillion, double Japan’s GDP, posing a risk of destabilizing the banking and financial sector
· Weekend Long Read: Five Shifts in China’s Opening-Up Strategy
Since 2012, the Chinese Communist Party has adjusted its goals for international investment, trade and its approach to the global economic governance system
· China-Russia Trade Dominates European Rail Freight As Ukraine War Drags On
The number of freight trains travelling between China and Russia has surged, hauling 90% of the goods traded with Europe
· Shenzhen Residents Evacuated From Building After Support Column Cracks
More than 1,000 people were ordered out of the 14-story mixed-use building, with authorities still investigating the cause of the incident
· Another Former China Development Bank Executive Investigated for Graft
Ex-Vice President Zhou Qingyu detained by authorities after being ousted last year before scheduled retirement and disgorging funds from bribes
· AIDS Cases in China Fell 13% During Pandemic, Expert Says
Annual tally dropped through the three years to 107,000 in 2022, but one-third could have been identified earlier
· Trending in China: Bali Deaths Ruled Murder-Suicide, but Netizens Aren’t Convinced
Police investigation into the gruesome deaths of a young Chinese couple at a hotel has left many unsatisfied, with key questions about the case unanswered
· China Complicates UBS’ Acquisition of Credit Suisse
If the deal were completed today, the combined bank would be in violation of Chinese regulations governing the ownership of securities firms
· China, Central Asian Leaders Pledge Closer Cooperation on Security, Economy
The consensus comes as President Xi Jinping and leaders of the nations — Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan — wrapped up the two-day China-Central Asia Summit
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