China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.41%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.38% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.34%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Ex-Everbright Bank Executive Expelled From Party For ‘Colluding With Capital’
Zhang Huayu, former deputy party secretary and deputy president of the state-owned bank, accused of accepting bribes and abusing power
· Communist Party Completes Provincial Reshuffle Ahead of National Congress
Three new appointments were made during the latest round of local elections, but most positions remained with incumbents
· Chinese Lithium Giant Falls Under Insider Trading Probe
Ganfeng’s chairman says investigation is linked to the failed acquisition of a manufacturer of lithium products and electric equipment
· Exclusive: China’s Largest Policy Bank to Fund Most of $45 Billion Infrastructure Stimulus
The China Development Bank will raise 210 billion yuan to support the country’s latest effort to boost investment for the sake of the economy
· China to Expand Global Investors’ Access to Its Financial Derivatives Market
As offshore investors become more active in trading Chinese bonds, their demand for derivatives to manage the risks of fluctuating interest rates has grown
· Chinese Online Music Tutor Shuts Down, Leaving Paying Customers in the Lurch
VIP Peilian has collapsed despite recent Covid lockdowns boosting demand for its services
· Chinese Dairy Producer’s Shares Sink After Additive Found in Its ‘Pure’ Milk
Maiquer’s stock sheds more than 7% after a local market watchdog confirmed the illicit presence of propylene glycol
· 12 Bodies Recovered After Crane Sinks in the South China Sea
The floating vessel suffered a direct hit by Typhoon Chaba off the Guangdong coast
· Covid Uncertainty Leaves More Guangzhou Offices Empty
Share of unoccupied Grade-A space in the Guangdong provincial capital was up by 1 percentage point from the past quarter, though the rate remained below that of Beijing and Shenzhen
· Macao’s Gambling Reforms Leave ‘Satellite Casinos’ With Uncertain Future
New law could see the businesses barred from taking a cut of gambling revenue
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This article was generated by Caixin Automation.
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