China’s benchmark Shanghai Composite Index (000001.SH) gained 1.26% on Monday, while the Shenzhen Component Index (399001.SZ) rose 1.53%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.69% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.85%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: Alibaba Renews Strategy Reset to Revive Growth Momentum
Jack Ma tells employees ‘we must reform for the future’
· Citic Securities, Haitong Probed for Alleged Share Transfer Violations
The companies are suspected of breaching the law in the transfer of the 2023 non-public issuance of shares of titanium dioxide manufacturer CNNC Hua Yuan Titanium Dioxide
· German Chancellor to Kick Off China Visit This Weekend Amid Trade Row
Olaf Scholz will meet President Xi Jinping and hold talks with Premier Li Qiang in a trip expected to help cement ties amid a spat between Beijing and the West over subsidies and overcapacity
· CSRC Embarks on Market Clean-up with Stricter Criteria for Delisting
All companies fitting the new delisting criteria should go, says CSRC director. There are no preset numbers
· China’s Sovereign Fund Bolsters Big Four Banks with $722 Million Investment
Central Huijin Investment has increased its holding in key banks to help stabilize the ailing stock market and vows to continue
· Fallen Everbright Group Chairman Charged With Bribery, Embezzlement
Tang Shuangning abused his power to help people in matters such as getting loans and changing jobs in exchange for ‘especially large’ amounts of money
· U.S. Treasury Secretary’s ‘Culinary Diplomacy’ Hits Sweet Spot in China
Janet Yellen wrapped up her second trip in just nine months this week, during which she dined at renowned restaurants in Beijing and Guangzhou, garnering widespread media and online attention
· Carmaker Cries ‘Cyber-Bullying’ After CEO Lambasted Online for Glorifying Staff Sacrifices
IM Motors co-CEO Liu Tao bragged that some workers had missed their babies’ births to meet the company’s deadline for its new car
· Deutsche Bank’s Panda Bond Shows Market’s Appetite for Low-Cost Yuan Debt
The German lender raises $415 million in the largest issuance of the instrument by a financial firm in six years
· Beijing Decries Multiple EU Probes Into New-Energy Subsidies as ‘Protectionist’
EU should ‘change course immediately’ on investigations that ‘undermine confidence of Chinese companies’ in Europe,’ commerce official says
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This article was generated by Caixin Automation.
