China’s benchmark Shanghai Composite Index (000001.SH) gained 1.96% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 3.1%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 3.02% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 4.02%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Hang Seng Investment Named New Manager of $14.25 Billion Hong Kong Fund
Unit of Hang Seng Bank will succeed State Street in running 23-year-old TraHK exchange-traded fund, which tracks Hong Kong’s benchmark index
· Opinion: How Shanghai Can Chart a New Path for China’s Covid Policy
Amid its worst outbreak, city could turn pandemic into manageable endemic disease using self-isolation, self-testing and advanced drugs and vaccines
· Deputy Governor of Liaoning Province Falls Under Graft Probe
Hao Chunrong ranked sixth among eight deputy governors, overseeing rural development, water system, culture and tourism
· Xpeng’s Electric Vehicle Sales Near 100,000 Despite Widening Loss
Upstart tops deliveries of rivals Nio and Li Auto, but lower pricing and heavy research and marketing costs result in buckets of red ink
· CSRC Denies Rumors of Restrictions on IPOs by Xiaomi-Linked Companies
In response to social media reports, top securities regulator says it isn’t standing in the way of share sales by businesses where the smartphone giant has investments
· No Relief for China’s Debt-Ridden Developers as Housing Sales Stay Weak
Major player Sunac delayed its 2021 financial results amid debt repayment uncertainty, while Yango defaulted on bonds
· Hundreds of Fake Medical Research Papers Published in Recent Months, Authorities Say
China’s latest crackdown on academic fraud has named senior doctors whose fake work has brought China’s scholarly reputation into disrepute
· Tech Insider: EV Firms Lose More Cash, Another Tech Firm Downsizes
Alibaba’s smart logistics group opens sorting center in Mexico, Evergrande EV subsidiary enters ‘pre-preorder’ phase
· China Doles Out Support for Businesses Amid Worst Covid Outbreak Since 2020
Measures to support enterprises include tax, fee and rent cuts
· Opinion: What China Should Watch for Amid the West’s Sanctions on Russia
In times of crisis, even countries with large forex reserves can suddenly run out of money. How then should they respond?
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This article was generated by Caixin Automation.
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