China’s benchmark Shanghai Composite Index (000001.SH) lost 0.18% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.38%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.19% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.35%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Ex-Senior Supreme Court Official Probed in Anti-Graft Campaign
Zheng Xuelin, former head of a division at China’s top court, is suspected of ‘serious violations of discipline and law,’ a common euphemism for corruption
· Weekly Must-Read: Why China’s Efforts to Juice Stocks Typically Don’t Last
Measures including cutting the stamp duty on trades and slowing the pace of IPOs are mostly seen as a short-term shot in the arm for sentiment
· China Media Capital Raises $136 Million for Its First Carbon-Neutral Fund
Private equity firm plans to invest in lithium batteries, photovoltaics, hydrogen energy, LNG, core components, new materials and high-end equipment
· Hong Kong’s Investment Arm Set to Start Funding Projects by Year-End
Chief Executive John Lee’s $7.91 billion HKIC plans to focus on fintech, AI, biotech and high-end manufacturing while promoting virtual assets
· China Extends Gold Buying Spree to 10th Month
Central Bank expands holdings to 69.62 million ounces as part of efforts to reduce reliance on the U.S. dollar
· Chinese Premier Takes Test Ride on Indonesia’s New High-Speed Railway
Visiting Jakarta for ASEAN Plus Three summit, Li Qiang steps aboard for demonstration of key Belt and Road project
· China Wants an East Asia Supply Chain ‘Matchmaking Conference’ Next Year
Premier Li Qiang says regional economic integration needs to be improved, especially with regard to production and distribution networks
· Public Security Penalty Expansion Risks ‘Abuse of Power,’ Legal Experts Say
Controversial draft revisions include new punishments for behavior such as wearing clothing that hurts ‘the feelings of the Chinese nation’ in public and making remarks that hurt the national spirit
Beijing sets growth targets for four more key industries, massive offshore wind turbine sets world record, national energy use could peak ‘before 2040’
· Analysis: China’s Largest Green Hydrogen Mega Project Hints at Vast Potential
Green hydrogen, made by splitting water molecules using renewable power, is seen as vital for decarbonizing heavy industries, like steel and chemicals
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This article was generated by Caixin Automation.
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