China’s benchmark Shanghai Composite Index (000001.SH) lost 0.26% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.9%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.12% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.55%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Caixin Top Stories of the Month: China’s Mammoth Effort to Help Foreigners Spend, Spend, Spend
While scanning QR codes is the ubiquitous payment method in China, it’s not available to most foreign visitors, making it a major hassle to even buy a coffee
· Flying Car Startup Volant Completes $13 Million Funding Round
The funds will be used for flight testing and to accelerate the airworthiness certification process, the company said
· ByteDance Fired 61 Employees Amid Internal Graft Crackdown
Three staff members have been arrested and another is under criminal investigation
· Japan’s Semiconductor Export Controls Disrupt Global Supply Chain, Ministry Says
Japan’s extended restrictions on chipmaking tool exports labeled ‘erroneous practices’ by China ministry
· Chinese Airlines Cut Labor Day Holiday Fares as Travelers Favor Rail
Following the pandemic more Chinese are opting for shorter-distance trips amid pervasive low consumer confidence, recent data show
China’s fragmented pension system is struggling to keep up with the pace of a rapidly graying population, while a low birth rate has complicated the issue
· Commentary: At Beijing Auto Show, CEOs Take the Car War Online
Top car executives have increasingly turned to social media to drum up interest in their vehicles — sometimes at their peril
· Opinion: To Make the Most of Special-Purpose Bonds, Greater Focus on Performance Is Needed
The effectiveness of using special-purpose bonds is a comprehensive test that challenges fiscal discipline and governance capabilities and is crucial to the integrity of China’s high-quality economic development
· Cover Story: How Do the West’s Concerns About China’s Overcapacity Stack Up?
Visits this month by top U.S. and EU policymakers illustrate the conundrum they face as they seek support from Beijing on issues like market access and climate change, while scolding it on others like subsidies
· China Offers Subsidies for New EV and Low-Emission Gasoline Vehicle Trade-Ins
The old-for-new initiative will offer buyers up to 10,000 yuan from April 26 to the end of the year in a bid to spur sales after a slow early start to the year
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This article was generated by Caixin Automation.
