China’s benchmark Shanghai Composite Index (000001.SH) lost 0.61% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.35%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.06% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.45%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Meituan Tops Hong Kong Food Delivery Market After Just One Year
KeeTa overtakes Foodpanda to become the top food delivery provider in Hong Kong with more than 40% of the market
· Former Top Tobacco Regulator Arrested for Bribery, Power Abuse
Ling Chengxin is the highest-ranking tobacco official caught in the graft crackdown
· China Offers One More Year Visa Waiver for Travelers from 12 Countries
The number of foreign visitors tripled in the first quarter compared to last year as 1.99 million tourists entered China visa-free
· Former China Unicom Executive Li Guohua Sentenced to 16 Years in Prison for Bribery
Postal system veteran also fined $830,000 and ordered to return the money he took in bribes
· Changan Auto Expects to Sign Off Investment in Huawei’s Smart Car Unit by End of August
Two sides are still in talks, but Changan is expected to become an angel round investor in new smart car unit
· Former Banking Executive Appointed Party Chief of Fujian’s Capital
Guo Ninging, a veteran banker and current executive vice governor of the province, has been named Communist Party chief of Fuzhou
· Shanghai Insurance Exchange Appoints New Chief as Ex-Chair Falls to Probe
The bourse taps regulatory veteran Wang Zhe to fill vacancy left by Ren Chunsheng, sources say
· SAIC Motor Rebuts Claim It Held Back Info From EU Investigators
The Chinese automaker said it fully cooperated and provided all necessary information in accordance with WTO and EU rules
· Commentary: Five Ways to Navigate the AI Revolution
Taking advantage of this once-in-a-generation megatrend goes beyond stock picking
· Congo’s $7 Billion Deal With China Linked to Copper Price Under New Contract
Nation will get $324 million annually for infrastructure projects from its Chinese partners through 2040 as long as copper remains above $8,000 per ton
Click here to read more of the latest news.
This article was generated by Caixin Automation.
