China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.45%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.82% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.24%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· In Depth: China Turns to Credit Easing to Kick-Start Sluggish Economy
Credit demand has been declining while the rapid recovery from Covid-19 has begun to stutter
· BYD Stops Making Fossil-Fuel Powered Cars, Goes Fully Electric
The carmaker sold more electric cars than combustion-engine vehicles for the first time in 2021
· Shanghai Reports No Port Back-Ups Amid Covid Flare-Up
World’s busiest container port says it’s keeping up with fast turnarounds and short queues amid concerns over congestion
· U.S. Investigators Arrive in China to Help Probe Fatal Plane Crash
Seven-member team from National Transportation Safety Board gets to work right away without quarantine, following Olympic protocols
· China Clears Two More Homegrown mRNA Vaccines for Clinical Trials
CanSino and CSPC candidates for Covid vaccines join Walvax-led group testing advanced technology as government presses to expand its arsenal
· Caixin New Economy Index Dips on Shrinking Labor Inputs
NEI falls to 30.6 in March from the previous month
· Hong Kong Leader Says She Will Not Seek Second Term
Carrie Lam declined to comment on a potential successor amid reports that the current No. 2 in the city, John Lee Ka-chiu, is planning to run for the top job
· Cover Story: Shanghai Fights a New Covid Enemy With Old Weapons
China’s playbook of lockdowns, mass testing and quarantines can’t keep up with BA.2 variant as city experiences shortages of food and medical care
· Shanghai Under Fire for Separating Infant Covid Patients From Their Parents
Images and videos posted on social media showed dozens of young children hospitalized in crowded wards and hallways, with no parents in sight
· China Proposes Revised Rules to Enable Sino-U.S. Audit Cooperation
As authorities move to keep Chinese stocks from being kicked off American exchanges, draft regulations would set up a cross-border audit inspection system
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This article was generated by Caixin Automation.
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