China’s benchmark Shanghai Composite Index (000001.SH) gained 0.4% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.57%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.41% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.91%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cross-Border Yuan Settlements Surge to Record High
Deals totaled $4.39 trillion in 2020, up 44.3% from the previous year, as China steps up efforts to promote international use of the currency
· Regulators Face Balancing Act in Curbing Property Risks, Analysts Say
It’s time for real estate to play a less prominent role in China’s economy, but the Evergrande crisis shows it’s a delicate transition, according to experts
· Caixin ESG Biweekly: Monetization of Green Assets on the Way
Chinese regulators are taking a cautious approach to building a green finance ecosystem as ensuring market stability, controlling risks remain top priorities, expert says
· Graft Watchdog Lists 101 Crimes That Will Get Officials Investigated Under New Law
Legislation strictly polices regulators and their probing of duty-related crimes, such as corruption, bribery and abuse of power
· Midsize Package Specialist to List in Hong Kong
ANE says it’s the top player in the less-than-truckload niche, which focuses on packages weighing 10 kilograms to 3 tons
· In Depth: How Evergrande Created China’s Most Valuable Automaker Without Selling a Single Car
A look into the debt-riddled developer’s forays beyond real estate shows how it was able to conjure fictions about itself that it used to spin into gold in the financial markets
· Chinese Officials Warned Against Meddling in Court Cases
Party’s central legal and political body offers cautionary tales to government, law enforcement and court officials about peers who were punished for abusing their power
· Former Citic Director Gets 18-Year Prison Sentence for Graft
Zhao Jingwen was convicted of receiving 5.5 million yuan in bribes
· China Tightens Tax Evasion Crackdown on Showbiz
State Taxation Administration expands three-year-old campaign to include online influencers and vows regulator inspections of big stars
· Southbound Bond Connect May Funnel $46 Billion a Year to Hong Kong
Bank of China Hong Kong makes projection as expansion of program is set to start Sept. 24, four years after northbound link
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This article was generated by Caixin Automation.
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