China’s benchmark Shanghai Composite Index (000001.SH) gained 0.55% on Wednesday, while the Shenzhen Component Index (399001.SZ) closed nearly flat.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.6% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.24%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· In Depth: Solving China’s Soaring Youth Unemployment
Spurring confidence in the private sector is key and a failure to do so may dampen the economic prospects of society as a whole, experts say
· In Depth: The Remaking of China’s Science and Technology Ministry
Shake-up is intended to refocus the sci-tech ministry on advancing China’s push for technology breakthroughs and self-reliance
· Bohai Bank Slapped With $2.5 Million Fine for 12 Violations
In Bohai’s third fine this year, central bank imposes penalties for breaking rules on deposit reserves, credit scoring and anti-money laundering
· Three Bidders Fight for Minsheng Securities’ Shares in Auction
As debt-laden Oceanwide Holdings offers 30% Minsheng stake for $827 million to cover a $291 million default, bidders include Dongwu Securities and Zheshang Securities
· LONGi Green Energy to Build $600 Million Solar Panel Plant in U.S.
Chinese solar wafer giant joins manufacturers taking on geopolitical and policy risks to cash in on new American incentives for clean energy factories
· Tech Insider: TikTok on Thin Ice, Premier Reassures Private Sector
China seeks a balance with its new national data bureau, ‘Big Fund’ gets new head after scandals
· In Workplace Harassment Cases, China Gives Women’s Voices More Weight, Experts Say
New guidelines show that intentions behind an action matter less than how a victim perceives them
· China to Resume Issuing Range of Visas to Foreigners
Authorities are seeking to restore cross-border travel to pre-pandemic levels as the country emerges from under its strict ‘zero-Covid’ regime
· Flight Service Rebound Between China and U.S. Remains Stalled
Pandemic-era limits hold flights to just over a 10th as many as before 2020 with little incentive or impetus to ramp services back up
· Update: China’s New Premier Vows to Support Private Enterprises
Former party chief of Shanghai offers assurances of a market-driven and law-based environment for business, while acknowledging ‘inappropriate discussions’ last year that led to frustrations among entrepreneurs
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This article was generated by Caixin Automation.
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