China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.12%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.9% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.88%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Minsheng Securities in Management Shakeup Before Guolian Buyout
Guolian veterans brought in to fill key posts in Minsheng team before acquisition by larger rival
· Self-Driving Cars Will Be on China’s Roads by 2025, Says XPeng Boss
AI powered in-car operating system unveiled, the first of its kind to be mass produced in China
· Charles Li’s Micro Connect Lays Off or Redeploys a Quarter of Its Staff in Radical Restructuring
Li blames the job cuts on management’s failure to control the pace of investment and over-hiring
· Ageas Buys 10% Stake in China Taiping’s Pension Unit for $150 Million
Agreement gives Belgian insurer the option to increase its stake to 24.99% within three years
· Veteran Diplomat Appointed Deputy Head of Communist Party’s International Liaison Arm
Lu Kang was until recently China’s ambassador to Indonesia, where he oversaw the construction of the Jakarta-Bandung high-speed railway, a major joint infrastructure projec
· China Tops World in Green Bond Issuance for Second Straight Year
The country’s $131 billion in 2023 nearly doubles the No. 2 nation, Germany
· CSRC Probes Information Disclosure Consultancies Amid Tightening Stock Market Oversight
The hiring of consulting firms founded by former regulatory officials to provide listed companies with information disclosure support has come under the microscope
· Asset Manager Great Wall Reveals $6.7 Billion Net Loss in Delayed 2022 Annual Report
The state-owned company blames the loss on the economic downturn, repeated outbreaks of Covid-19 and the real estate debt crisis
· In Depth: China’s Securities Firms Rein In Pay Packets as Pressures Mount
The industry is being squeezed by a government campaign to cut excessive remuneration, a bearish stock market and regulatory tightening of IPOs
· China Targets ‘Political Swindlers’ in Anti-Graft Campaign
Investigations have found several instances of fraudsters duping officials by claiming to be able to secure promotions, deflect corruption probes
Click here to read more of the latest news.
This article was generated by Caixin Automation.
