China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.25%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.07% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.27%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Central Bank Revamps Regional Offices in Key Overhaul
The recent reorganization of the bank’s operations at county level marked the completion of its three-tier organizational structure
· Xi Prioritizes Policies to Reduce Youth Unemployment in China
China’s president calls for efforts to promote high-quality employment as more graduates prepare to join job market
· Boss of New China Asset Management Disappears, Sources Say
Zhang Chi has likely been detained by graft-busters
· Macao Could Be Hub for Tech Exchanges, Expo Co-Founder Says
BEYOND Expo’s Jason Ho cited the region’s location, mature exhibition facilities and hotels, as well as its relatively relaxed visa regime
· In Depth: It’s Curtains for China’s Local Financial Asset Exchanges
The trading platforms have become too much of a risk to financial stability, with many degenerating into channels for illegal financing
· Public Security Official Loses Lawsuit for Online Attacks on Murdered Couple’s Daughters
A Shenzhen court rules the former police spokesperson damaged the plaintiffs’ reputations for casting doubt on their motives after they questioned the official response in the case
· China Piles $47.5 Billion Into ‘Big Fund III’ to Boost Chip Development
Third phase of the Big Fund aims to help build a semiconductor industry to circumvent U.S. export controls on powerful chips
· Caixin Explains: How China Is Overhauling Regulations on Genetic Resources
Amid rising global competition, the government moves to lift restrictions threatening to strangle the biotech industry
· Shanghai Relaxes Mortgage Rules to Bolster Housing Market Support
China’s financial hub reduces downpayment ratios and lowers floor for mortgage rates
· Asia Should Lead Global Decarbonization, Ex-PBOC Chief Says
Zhou Xiaochuan calls on countries to ‘establish before breaking’ as they restructure their economies
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This article was generated by Caixin Automation.
