China’s benchmark Shanghai Composite Index (000001.SH) gained 1.01% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.62%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.07% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.63%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekend Long Read: China’s Hydrogen Future Explained in Eight Questions
Falling green electricity prices, rising climate concerns and advancements in end-use technologies make the element look at lot more promising as a source of clean energy
· Weekly Must-Read: China IPO Slowdown Pits Startups Against Investors
As companies miss listing deadlines, they are increasingly becoming mired in disputes with their early-stage investors who want their money back
· Micron Starts Construction of New Plant in Xi’an
New plant shows U.S. memory-chip maker’s deepening commitment to China market
· Indebted Builder China Aoyuan Reports $3.9 Billion Hole in Its Balance Sheet
Developer’s financial stress deepens as property downturn persists
· Ex-Head Coach of China’s National Soccer Team Pleads Guilty to Bribery Charges
Former coach accepted bribes, paid bribes, manipulated player selections and match outcomes
· Chinese Communist Party Diplomat Calls for ‘Constructive’ China-U.S. Ties
The two governments need to manage risks, crises and conflicts to avoid any potential clashes, says Liu Jianchao, head of the International Department of the party’s Central Committee
· Xi Vows Major Steps to Create World Class Business Environment
The president promised a ‘broader development space’ for foreign firms during a meeting with leaders from U.S. businesses and academia, including Qualcomm and Harvard University
· Citic Securities Denies Short Selling After Shanghai Stocks Drop Most in a Month
Top brokerage condemns ‘false and untrue information’ that has damaged the company’s reputation
· China’s New Energy Utilization Rate to Dip for First Time in Six Years, Expert Says
An increasing proportion of the country’s wind and solar power is expected to go to waste from 2024, Zhang Jinping of the China Electric Power Research Institute says
· Exclusive: China Development Bank Taps Fellow Policy Lender for New Vice President
Chen Mengmeng is head of the Shandong branch of the Agricultural Development Bank of China
Click here to read more of the latest news.
This article was generated by Caixin Automation.
