China’s benchmark Shanghai Composite Index (000001.SH) gained 0.67% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.28%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.09% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.58%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· ING Sues ICBC for $171 Million in Copper Deal Losses
Dutch banking giant alleges breach of contract by China’s largest bank in transactions involving copper trader Maike Metals
· Update: Xi Affirms China’s Commitment to Restoring Peace in Ukraine in Phone Call With Zelenskyy
Beijing will send one or more special representatives on Eurasian affairs to Ukraine to talk with all parties comprehensively about a political settlement, Chinese president says
· Labor Day Holiday Travel Demand Tops Pre-Pandemic Levels
Domestic hotel bookings for the five-day holiday are up 23% compared to the same period of 2019 on travel platform Qunar.com, while rival Trip.com reported a 157% jump in certain package tours
· U.S. Firms’ Optimism on China Grows Despite Tensions, AmCham Survey Shows
Almost 60% of the 109 companies that participated in the poll responded positively when asked about their two-year outlook on the Chinese economy
· Analysis: Who’s Benefiting From the Shift in U.S. Sourcing Away From China
Regions with lower labor costs have benefited from the shift in U.S. purchases from China — but that’s only true for some types of goods
· Photo Essay: Using Tech to Protect China’s Cultural Heritage
Researchers are turning to 3D printing and VR to prevent the time-weathered Longmen Grottoes from disappearing
· Chinese City to Pay Civil Servants in Digital Yuan
Changshu, in eastern China, will begin paying its civil servants and employees of state-owned enterprises in e-CNY from May
· British Airways Resumes Service to China After Two-Year Hiatus
U.K. flag carrier reinstates daily London-Shanghai passenger flight for the first time since late 2020
· Evergrande NEV Dumps Property Assets to Focus on Carmaking
Offloading predecessor company’s mostly health-related projects will get $3.6 billion of liabilities off the electric car unit’s balance sheet
· Cosco’s Egypt Terminal Project Enters Antitrust Review
Chinese shipping giant and partners Hutchison Ports and France’s CMA CGM plan to co-develop and operate a container unit at the Suez Canal
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This article was generated by Caixin Automation.
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