China’s benchmark Shanghai Composite Index (000001.SH) lost 0.08% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.74%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.57% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.44%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China Changes Pricing Model for World’s Largest Power Grid
New electricity rates will treat all businesses as favorably as large industrial users
· EV-Battery Giant CATL Teams Up With Thai Automaker
The Chinese firm will supply Arun Plus with the technology and production line for manufacturing cell-to-pack batteries in Thailand
· China’s International Air Travel Recovery Remains Patchy
While domestic flight services returned to pre-pandemic levels, international flights in May were just 37.9% of the 2019 total
· Ex-PBOC Deputy Governor Kicked Out of Communist Party
Fan Yifei, arrested last November by graft busters, accused of accepting a ‘huge amount’ of bribes and abusing power ‘over a long period of time’
· China Greenlights Homegrown Covid Shot That Guards Against Dominant Strain
WestVac Biopharma said the vaccine was the first targeting the omicron XBB subvariant to receive government approval
· China Seeks Stronger Measures to Curb Cyberbullying
Authorities are under pressure to deal with abusers following a series of high-profile deaths related to attacks online
· Weekly Must-Read: U.S. Tensions Could Sap Chinese EV-Battery Makers’ Global Ambitions
World leader CATL and its peers face policy headwinds in the West that could benefit South Korean, Japanese rivals
· Shandong Court Boots Levdeo’s Bankruptcy Petition as Immature
Maker of mini electric cars owes billions of yuan to bankers, dealers and suppliers after suspending production in January
· China’s Passenger Car Exports Doubled in First Five Months
Shipments abroad totaled 1.38 million vehicles from January through May, providing a bright spot for exporters amid weak global demand
· Ping An Bank Passes the Torch to a New President
Banking veteran Ji Guangheng succeeds retiring Hu Yuefei, who was president of the banking unit of Ping An Insurance since 2016
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This article was generated by Caixin Automation.
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