China’s benchmark Shanghai Composite Index (000001.SH) gained 1.18% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 1.82%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.87% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.66%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s QingCi Games Seeks $153 Million in Hong Kong IPO
Riding success of games that play themselves, Alibaba and Tencent-backed developer has six mobile games in operation and is working on 10 more
· Fosun and BioNTech Are Developing Omicron-Specific Vaccine
Approval of shot targeting new Covid variant may take three to four months, but the public doesn’t ‘need to panic,’ Chinese drugmaker says
· Roundup: Eagerly Watched Politburo Meeting Signals Focus on Stability
As expansion continues to moderate, China economy watchers weigh in on the significant December Politburo meeting
· Rare Disease Patients Will Have to Wait for Affordable Drugs, Experts Say
Some medicines’ recent inclusion in the country’s medical insurance plan doesn’t mean more rare drugs will be available soon, as price talks can drag
· Securities Regulatory Veteran Picked to Head Shenzhen Bourse
Chen Huaping served many years at the CSRC, including as chief of the bureau battling market misconduct
· State Firms Join New Evergrande Risk Management Committee
Body’s key job will be to assess crisis-stricken developer’s financial situation and come up with asset disposal plan, analyst says
· U.K Businesses in China Say in a Covid World, Staffing Is Their Most Pressing Concern
Although more companies are optimistic about their prospects, hiring and retaining foreign employees has become their biggest challenge, survey shows
· Energy Insider: Yunnan’s Big Battery Plans
Rare earth prices to retreat while coal prices keep rising; aluminum electrolysis gets more profitable; and CATL’s new production base
· In Depth: China’s 10-Year Struggle for Ecological ‘Red Lines’
The controversy surrounding the alleged use of protected areas for a reservoir in Central China underscores the difficulties authorities face in balancing environmental protection with economic development
· Shandong Financial Regulatory Agency Appoints New Director
Xing Guijun, formerly with the city commercial bank supervision department, is heading up the CBIRC’s Shandong office, as the previous director moved to replace an official now under investigation
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