China’s benchmark Shanghai Composite Index (000001.SH) gained 0.54% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.38%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.58% 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:
· China Appoints Lu Lei as Deputy Central Bank Governor
Veteran financial regulator to oversee research bureau, currency bureau, among others
· Scandal-Plagued Amethystum Says Controlling Shareholder Detained
Former Chairman Zheng Mu charged with securities fraud in connection with 2020 IPO
· Tech Insider: China Softens Stance on Gaming, More Vivo Executives Detained in India
Nio unveils electric sedan to take Porsche head-on, Micron settles IP lawsuit amid push to repair Beijing ties
· Chinese Solar Major Tongwei Plans $4 Billion Factory as Consolidation Looms
The new facility is designed to produce 500,000 tons of industrial silicon and 400,000 tons of polysilicon each year
· Year in Review: China’s Economy Struggles to Regain Early Momentum
Growth will likely hit policymakers’ target for 2023, but a bumpy recovery sets the stage for slightly more expansionary fiscal and monetary policies in the year ahead
· Opinion: China Will Remain a Critical Market for Multinationals
Despite macroeconomic headwinds and pressure from local competitors, the country will continue to be a priority for MNCs in 2024
· Troubled Sichuan Trust Offers 40% to 80% Compensation to Investors
Company offers incentives to investors to accept repayment plan soon; compensation ratio weighted toward smaller players
· Two More Vivo Executives Detained in India in Money-Laundering Probe
China’s foreign affairs ministry ‘closely following’ latest arrests byIndia’s Enforcement Directorate; ministry asks for fair treatment for Chinese businesses in India
· Air China Order Gives Homegrown C919 Jets a Boost
Chinese flag carrier plans to add 17 of the domestically produced aircraft to cut maintenance costs, increase number of potential routes
· Year in Review: Chinese Diplomacy Springs to Action
A flurry of high-level meetings with the U.S., Europe and developing countries sought to ease bilateral tensions and boost global influence
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