China’s benchmark Shanghai Composite Index (000001.SH) gained 0.49% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.12%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.31% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.44%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Former China Railway Czar Faces Criminal Charges
Sheng Guangzu formally charged with soliciting and accepting bribes following a year-long investigation
· Beijing Rejects U.S. Claim That China Plans to Send Lethal Aid to Russia
Relations between Beijing and Washington further strained after President Joe Biden order to shoot down an alleged spy balloon from China
· Standard Chartered Among Five Banks Fined for Loan Violations
Chinese regulators dish out a total 388 million yuan in penalties for misconduct
· In Depth: Hiring of ICBC Veteran Looms Over Disappearance of China Renaissance Founder
Bao Fan’s disappearance is likely linked to that of former company executive Cong Lin in September, whom the investment bank poached from the state-owned lender in 2020, sources say
· China Doesn’t Have an EV Production Glut, Ex-Minister Says
Miao Wei, former industry minister, says there’s plenty of demand to meet a potential overhang
· CATL Offering Steep Discounts to Automakers in Quid Pro Quo Deal, Source Says
The world’s largest electric-vehicle battery producer is said to be asking its customers to buy 80% of their batteries from it alone
· Cover Story: One Year Into Russia-Ukraine War and Still No End in Sight
The war has sparked an energy crisis in Europe, driven up global inflation and triggered a world-wide grain shortage
· China Completes Rollout of New IPO System With Inclusion of Main Boards in Shanghai, Shenzhen
The registration-based system is aimed at simplifying the listing requirements and giving bourses a bigger role in reviewing applications
· Weekend Long Read: The Safest and Most Endangered Jobs in a ChatGPT World
AI will replace simple, repetitive jobs, but those involving complexity, creativity and interpersonal skills will continue to thrive and remain the domain of humans
· China Issues Rules for Giant Money Market Funds
Central bank and securities regulatory agency outline investment requirements, leverage ratios and risk reserves for $1.6 trillion market
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This article was generated by Caixin Automation.
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