China’s benchmark Shanghai Composite Index (000001.SH) gained 0.66% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.7%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.42% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.8%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Li Yining, Who Helped Bring Private Investment to China’s State Sector, Dies at 92
The economist advocated for joint-stock reform of SOEs while overseeing the creation of the 1998 Securities Law
· Top Stories of the Month: 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
· Northeast Pharmaceutical Fined $19 Million for Jacking Up Drug Ingredient Prices
Leading Chinese drug-ingredients supplier illegally quadrupled costs for materials used to make a treatment for kidney dialysis patients, Liaoning regulators find
· Global Shipping Index Surges on China’s Recovery Outlook
Baltic Dry Index, a key leading indicator for world trade, jumps 64% in five days to highest reading since June 2020
· China’s Struggling Bus Operators Highlight Fiscal Woes of Local Governments
A public transport company in the central city of Shangqiu threatens to suspend services due to mounting losses, prompting the government to step in
· Lithium Prices Tumble to 12-Month Lows
The average spot price of lithium carbonate hit 392,500 yuan per ton on Friday, down 23.1% year-to-date and 31% from its record high in November
· Volkswagen-JAC Venture Unveils EV Running on Sodium-Ion Battery
Sihao says the power cells are cheaper to produce than the more mainstream lithium-based option
· ‘Big Four’ Accounting Firms Still Favored by Some China State Firms
Recent announcements from China Taiping Insurance and PICC show continued use of the auditors
· Ex-Provincial Vice Governor Indicted for Bribery, Leaking Insider Information
The charges against the former Hubei official Cao Guangjing span his career as a long-time executive of China Three Gorges Corp., the world’s largest hydropower development enterprise
· Cover Story: China’s Tax System Gets a Digital Upgrade
The rollout of the so-called Golden Tax System Phase IV is slated for this year and will see greater scrutiny of tax dodgers
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
