China’s benchmark Shanghai Composite Index (000001.SH) gained 0.64% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 1.6%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.47% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.98%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Former Chief of Chip Giant Unigroup Charged With Corruption
Zhao Weiguo, arrested in July, treated the state-owned enterprise as his personal fiefdom and handed out goodies to friends and relatives, graft busters say
· A Year Later, China Still Tries to Explain Plane's Nosedive
Aviation authorities cite ‘complexity and rarity’ of disaster in update on probe of flight MU5735
· Xi Meets Putin in First State Visit Since Russia-Ukraine War
In three-day trip, Chinese president is expected to discuss proposals for resolving the war while further developing links with Russia
· XPeng Predicts Revenue, Deliveries to Nosedive in the First Quarter
The Chinese electric-vehicle upstart forecasts a revenue drop of as much as 46% as vehicle sales slow
· SVB Collapse Catches Chinese Tech Startups, Private Funds Off Guard
Chinese firms and investors have rushed to withdraw their funds from SVB as U.S. regulators stepped in to protect depositors
· Opinion: What China Can Learn From SVB’s Collapse
The U.S. response to Silicon Valley Bank’s failure can offer valuable insights to China’s banking industry, an economist says
· China Launches Campaign to Tackle Pressing Domestic Challenges
The ‘investigation and research’ initiative aims to find solutions to problems including achieving science and technology self-reliance, preventing financial risks and refining the legal system
· Beijing Welcomes Ex-Taiwan Leader’s Visit to the Mainland
Ma Ying-jeou, the island’s leader from 2008 to 2016, will take a group of students on a tour of several cities from March 27 to April 7
· Cover Story: 2008 Redux? SVB Collapse Raises Questions About Banking Oversight
Fears of a repeat of the global financial crisis sparks reevaluation of the overall health of the U.S. banking system and prudence of rapid rate hikes
· Weekend Long Read: The Chinese Scholars Taking On Fraud in Academic Journals
In a fight to preserve research integrity, Yang Liying and her team have been publishing an annual list of problematic publications to sound the alarm about misconduct
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