China’s benchmark Shanghai Composite Index (000001.SH) lost 0.54% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.57%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.94% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.4%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: Fraudulent Fundraising to Aid Sick Children Tarnishes China’s Charity Sector
By Huang Huizhao, Jiang Moting, Tang Hanyu, Tan Chen and Han Wei
· Huawei Founder Confident Company Will Prevail Despite ‘Mounting Difficulties’
Ren Zhengfei says China will develop technological standards that surpass those of U.S. as company debuts phone said to be powered by self-developed chip amid sanctions
· South Korea Pleads With U.S. on China Chip Curbs as Expiry of Waiver Nears
Seoul’s Minister of Trade Bang Moon-kyu made the plea as SK Hynix and Samsung fret they may be cut off from crucial U.S. chipmaking equipment
· Weekend Long Read: China’s Chipmaking Breakthrough Too Good to Be True
Science writer Wang Jie sets the record straight on much-talked-about online reports that Chinese scientists have independently developed the most advanced tech for producing semiconductors
· Pandemic Spending Put Local Chinese Governments $548 Billion in the Red
Top economist Bai Chongen urges central government to issue bonds and help local authorities pay off amounts owed to businesses
· Bank of Nanjing Joins China’s List of ‘Too Big to Fail’ Banks
Addition brings the list to 20 financial institutions that are subject to stricter regulation because of their importance to financial stability
· What to Watch at the China-Hosted Asian Games
Former sports editor Yang Wang highlights five areas to watch at the Hangzhou event, including key contests, esports, and which athletes social media is swooning over
· Sichuan Sets Sights on Becoming ‘World-Class’ EV Battery Hub
The southwestern province plans to expedite development of lithium resources and build an entire industry supply chain
· Dozens of Chinese Nationals Deported From Indonesia for Cross-Border Telecom Fraud
The suspects are allegedly involved in over 100 ‘nude chat’ extortion cases that have been filed across the country, authorities say
· China Tells SOEs, Local Governments: Pay Your Overdue Bills
State Council campaign is aimed at supporting businesses as arrears amounting to trillions of yuan, according to one estimate, threaten the vitality of the private sector
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This article was generated by Caixin Automation.
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