China’s benchmark Shanghai Composite Index (000001.SH) gained 2.14% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 2.48%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.42% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.11%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Regains the Travel Bug as Air and Rail Trips Soar
Passenger numbers hit record highs for airlines and trains as travel demand rebounds after Covid
· Shanghai Plans $276 Billion Funding Support for Innovative Tech Firms
Loan guarantee program aims to assist private business in supporting the development of new ‘productive forces’
· Has Alibaba Lost Its Appetite for an Ele.me Sale?
Selling food delivery platform would send an efficient delivery team to its competitor, warns market analyst
· China Home Prices Continue to Fall Amid Sluggish Sales in March
New and existing homes see prices fall month-on-month despite the easing of purchase restrictions and mortgage rules
· Feitian Moutai Price Drop Triggers Billion-Dollar Selloff in Liquor Stocks
Falling price of China’s ‘national liquor’ hits share prices but analysts are confident time will raise spirits
· Baby Platform’s War of Words With Ex-CFO Sparks a Second Police Probe
Xu Chong says seven people linked to Hong Kong-listed BabyTree slandered him with allegations of embezzlement
· Exclusive: Star Chinese Fund Manager Prosecuted for Bribery
Cai Songsong and two other defendants appeared in court on March 27 over trading a listed company’s stock for personal gains, sources tell Caixin
· China Sports Regulator to Get Tough on Those Who Don’t Play Fair
GAS will stiffen punishments for throwing matches, fixing competitions and other misconduct in new rules set to take effect July 1
· China’s AI Model Developers Face Watershed Moment, Lenovo Executive Says
Vice President Song Chunyu predicts number of companies building large language models will nosedive this year as the industry consolidates
· More Overseas Buyers Turn Out for Canton Fair in Strong Sign for Exports
China’s biggest trade fair drew more than 60,000 purchasers from abroad on its opening day
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This article was generated by Caixin Automation.
