China’s benchmark Shanghai Composite Index (000001.SH) gained 1.26% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.61%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.12% 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:
· China Shuts ‘Fake’ Foreign Investors out of Stock Connect Program
Ban by securities watchdog comes into effect, closing a loophole investors could use to “round trip” trades
· Top Shanghai Lawmaker Under Graft Investigation
Dong Yunhu is the first provincial-level official probed since the party’s 20th national congress in October 2022
· Wanda Group Sells $307 Million Shares in Cinema Unit Amid Liquidity Pressure
Conglomerate continues to sell assets as developers face sluggish real estate market
· Chinese Mainland Savers Rush to Hong Kong to Capitalize on Higher Returns, Less Risk
Many visitors have been putting their money into insurance policies and savings accounts in the financial hub since the border fully reopened
· Chinese Automakers Ride Overseas Demand as Global Expansion Pays Off
Exports leapt 75.7% in the first half to 2.14 million vehicles, fueled by rising demand for NEVs and surging deliveries to sanction-hit Russia, industry data shows
· Opinion: Will the ‘Fourth Arrow’ Save Chinese Real Estate?
Measures to ensure developers continue to get access to financing won’t fix the industry’s underlying issues. For that to happen, prices need to fall
· U.S. Climate Envoy Set to Visit China Next Week
John Kerry’s trip from July 16 to 19 follows high-profile visits by Treasury Secretary Janet Yellen and Secretary of State Antony Blinken
· Hong Kong Regulator Confident in Streamlining of Cross-Border Transfer of Mainland Audit Paper
Accounting and Financial Reporting Council chair says procedure will be “greatly shortened” from 9-month average
· Another Regulatory Official Probed in China’s Sweeping Tobacco Industry Crackdown
Former department head under investigation for “serious violation of law and discipline”
· Fitness App Keep Raises $38.3 Million In Lackluster Hong Kong IPO
Valuation short nearly $400 million from latest funding round
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This article was generated by Caixin Automation.
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