China’s benchmark Shanghai Composite Index (000001.SH) gained 0.57% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.41%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.65% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) ended nearly flat.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Central Bank Provides $13.4 Billion to Back Carbon Reduction
PBOC distributes low-cost funds to financial institutions for lending to businesses carrying out emission reduction projects
· HSBC Cleared to Take Full Control of China Life Insurance Business
Buying out partner National Trust, the global banking giant becomes the third foreign company with a wholly owned life insurance unit in China
· China Favors Mega-Refiners in Cutting Crude Oil Import Quota
Government steers allowances to more sophisticated, less pollutive operations and away from teapot refiners
· China Chili Sauce Imposters Jailed for Defrauding Tech Giant Tencent
Court sentences the trio posing as employees of the beloved Lao Gan Ma brand to between six and 12 years in prison
· Residents Struggle to Buy Groceries as Lockdown Upends Life in Xi’an
Soaring prices, undelivered orders, closure of shops and suspension of medical services are some of the problems facing locals in Covid-ravaged city
· China to Fast Track Unified Export Control List for Weapons Tech
Beijing publishes first white paper detailing ‘holistic approach to national security’ in thinly veiled swipe at U.S. ‘double standards’
· Trending in China: Beijing Subway Stops Lose English in the Name of Regulation
Translations have made way for romanizations of Chinese at some stations, as social media users debate the reason behind the pre-Olympic gesture
· Stock Investors Take Shine to JinkoSolar After Shanghai IPO Approved
The New York-listed panel-maker’s shares are up since China’s securities regulator greenlighted its major unit’s Shanghai listing
· Unigroup Clears Major Hurdle in Massive Revamp
Creditors and shareholders endorse $9.42 billion bailout led by JAC Capital and Wise Road Capital, overcoming resistance from 49% owner Zhao Weiguo
· Regulator Summons CICC Staff Over Lenovo’s Scrapped Listing Plan
Investment banking chief and four others criticized for inadequate due diligence in assessing Lenovo’s eligibility for STAR Market
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This article was generated by Caixin Automation.
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