China’s benchmark Shanghai Composite Index (000001.SH) lost 0.09% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.66%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.52% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.05%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China and Saudi Arabia Agree on $50 Billion of Deals
Saudi investment minister puts a value on a raft of accords signed last week during President Xi Jinping’s state visit, Bloomberg reports
· China Unplugs Travel Tracking System as Covid Curbs Ease
‘Mobile itinerary card,’ which used cellphone data to track individuals’ movements, to be deactivated and personal data deleted
· Zhang Wenhong: How China Can Weather Spiking Covid
The surge of infections as pandemic controls lift will soon subside if we take precautions and protect our families — especially the elderly and vulnerable
· Covid Infections to Peak in Shanghai and Guangzhou in Early 2023, Experts Say
Infectious disease expert Zhang Wenhong has called on health care workers in Shanghai to ‘get prepared’ as the next few months will be a critical period for the city’s elderly
· Fraudsters Get Life in Prison for $1 Billion Fake-SOE Fundraising Scam
A Shanghai court sentenced the two senior executives at the center of a con peddling fund products under the pretense that they were guaranteed by a state-owned enterprise
· Shanghai Universities Let Students Head Home Early Amid Covid Spike
Students can apply to study remotely for the remainder of the term, as higher education institutions try to lessen the burden from potential infections
· Cover Story: Covid Chaos at China’s Hospitals as Stringent Control Policy Eases
Health care centers from Guangzhou to Shijiazhuang to Beijing are slammed amid surging infections and severe shortages of medical workers
· Douyin Accused of Foul Play Over World Cup 4K Streaming Rights
Court orders ByteDance’s popular short video app to remove ads promoting its 4K live streaming after a China Mobile subsidiary complained
· Xi Seeks Yuan Settlement of China Energy Trades With Gulf States
The president said the move could be made in three-to-five years as he signaled increased oil and LNG purchases
· Weekend Long Read: Meet the Entrepreneurs Aiming to Fix Society’s Problems
The winners of the CSEIF’s For Good Awards, co-sponsored by Caixin, include business leaders providing affordable housing for low-income workers, health insurance to the underinsured and small business support for budding retailers in rural China
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This article was generated by Caixin Automation.
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