China’s benchmark Shanghai Composite Index (000001.SH) gained 0.4% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.47%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.23% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.9%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Names Lan Foan to Be New Finance Minister
Appointment of the public finance specialist was widely expected after he was named Communist Party chief of the Ministry of Finance
· Chinese Airlines Take ‘All You Can Fly’ Promotions International
China Southern joins Spring Airlines and Shandong Airlines in offering foreign travel bargain passes to spur travel in the coming slow season
· Pony.ai Scores $100 Million Investment From Saudi Arabia
Chinese self-driving vehicle startup to set up joint robotaxi venture with the kingdom’s giant Neom urban development project
· China’s Top Diplomat to Visit Washington
During a three-day visit beginning Thursday, Wang Yi will have in-depth exchanges with top American officials on China-U.S. relations as well as international and regional issues of common concern, foreign ministry says
· China Removes Defense Minister Li Shangfu, State Broadcaster Says
Li, who was only appointed in March, has been out of public sight for almost two months
· CICC’s 27 Billion Yuan Refinancing Plan Fails
The snub for one of China’s biggest securities companies comes as such firms find it tougher to replenish their capital
· China Takes Aim at Development Roadblocks in Private Sector
State Council announces new campaign that includes cracking down on unfair practices that target private businesses amid move to boost sector
· In Depth: China Banks Jump on AI Bandwagon to Cut Costs
Lenders are using models for various purposes such as customer service and risk control, but face technical and regulatory hurdles
· China Delivers Emergency Humanitarian Aid to Gaza
‘What the people of Gaza need most at present is security, food and medicine, rather than war, weapons or ammunition,’ Foreign Minister Wang Yi says
· Tech Insider: China Probes Foxconn Affiliates, AI Startup Zhipu Wins Big Tech Support
Dongfeng Motor consolidates manufacturing with JV asset sale, EV-maker Nio reboots sales strategy amid China’s crowded car market
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
