China’s benchmark Shanghai Composite Index (000001.SH) lost 0.61% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.7%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.91% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.14%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Wanda May Offload Malls and Hotels Amid Fading HK Share Sale Prospects
Embattled Chinese real estate giant needs to increase liquidity as planned Zhuhai Wanda flotation appears uncertain
· Xi Calls China’s National Security Situation Complex and Grave
Chinese president tells national security commission that threats have increased and China should accelerate modernization of its systems and capabilities
· China’s Services Sector Continues to Rebound Faster Than Industrial Sector
Profits of state-owned enterprises diverge sharply over the year’s first four months, based on data from the NBS and the Finance Ministry
· Tech Insider: China’s C919 First Commercial Flight, Alibaba’s Push Back on Job Cut Reports
Retired Meituan co-founder gives up weighted voting rights, HPE moves closer to exit from China IT gear joint venture
· China Sends First Crew Into Orbit Since Space Station’s Completion
The three members of Shenzhou-16, including China’s first civilian astronaut, blasted off Tuesday for a five-month mission
· Morgan Stanley Gets Nod to Open China Futures Business
The unit will be the second wholly foreign-owned company operating in a market that generated a turnover of $80 trillion last year
· Strengthen China’s Education System to Drive Innovation, Xi Says
The president stressed the need to accelerate the development of world-class universities and continue opening up the education sector to the outside world
· Top Stories of the Month: China’s Effort to Move Mountain of ‘Hidden Debt’ Faces Uphill Climb
Local governments’ invisible debt could be as high as almost $10 trillion, double Japan’s GDP, posing a risk of destabilizing the banking and financial sector
· Former Senior Provincial Legislator Ensnared in Graft Probe
Ex-deputy director of Northwest China’s Shaanxi province Li Jinzhu has been placed under investigation by the country’s top graft watchdog
· Hong Kong Lawmaker Regina Ip Calls for Public Not to Overreact to Cathay Pacific Incident
Chinese people from mainland and Hong Kong ‘should understand and tolerate each other,’ Executive Council Convenor Regina Ip says in social media post
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This article was generated by Caixin Automation.
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