China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.16%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.48% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.1%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Starts Stress Testing Banks to Avoid Stampede Out of Bonds
PBOC begins the test as a stellar rally in Chinese bonds has stalled amid measures to cool sentiment
· Bank of China Appoints Ge Acting President After Liu Resigns
Liu Jin resigned from his roles including as executive director due to personal reasons, the state-owned bank said in a stock exchange filing
Firms’ dependence on underwriting and trading debt securities surges amid regulatory gaps
· China Extradites ‘Godfather’ of Asian Pyramid Schemes From Thailand
Zhang Yufa, a Malaysian national of Chinese descent, was escorted by public security officers in the first such transfer since a bilateral extradition treaty came into effect in 1999
· Two Children Among Five Chinese Nationals Killed in Thai Plane Crash
A total of nine people were killed when the small passenger plane crashed into a mangrove forest shortly after taking off from Bangkok, according to media reports
· Weekend Long Read: As China Exhausts Low-Cost Advantage, Urgent Shift to Innovation Needed
A pivot is necessary as exports and inward foreign direct investment face headwinds, and an aging population presents a significant challenge
· China’s Duty-Free Haven Hands Out $3.4 Million Vouchers to Spur Spending
Hainan’s spending voucher spree is designed to encourage tourists to splash out and boost retail sales
· China’s 30,000 Local Financial Entities Face Tougher Scrutiny
Regulatory bodies call for the elimination of these institutions that do not comply with the rules
· Career Rehabilitation of Punished Chinese Officials Raises Eyebrows
Appointment of official sanctioned and demoted for pandemic-related misconduct to senior role in provincial capital sparks discussion online following a number of similar cases involving disgraced officials
· President Xi Hails Former Leader Deng as Architect of Socialist Reform
Xi Jinping calls for the study and application of Deng Xiaoping’s theories in pursuit of advancing socialism with Chinese characteristics
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This article was generated by Caixin Automation.
