China’s benchmark Shanghai Composite Index (000001.SH) lost 0.68% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.84%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.41% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.63%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Photo Essay: World’s Largest Wholesale Market Bounces Back
Foreign trade at the Yiwu small commodities marketplace is experiencing a revival stemming from the abandonment of the ‘zero-Covid’ policy and rising global demand
· Everbright Trust Unit Staffers Come Under Investigation
Multiple workers taken away by authorities in expanding probe of shanty town renovation projects, Caixin learned
· Tesla Safety Faults Contributed to Worker Fatality, Shanghai Authorities Find
Electric vehicle giant should be punished in connection with February death of worker crushed by equipment, according to investigation report
· Hospital Fire Kills 21 People in Beijing
Blaze starts around noon in eight-story inpatient wing of Changfeng Hospital in Fengtai District; cause under investigation
· China Private Equity Investment Plunges to Eight-Year Low
PE funding fell 53% to $62 billion in 2022 amid growing macroeconomic headwinds, Bain reports
· Tech Insider: Industry Insiders Say China Chip Sector Resilient, XPeng to Slash Manufacturing Costs
Montana may become first U.S. state to ban TikTok on personal devices, Volkswagen unveils $66,000 EV sedan in fight for market share in China
· In Depth: Long Tethered to Apple, Chinese Suppliers Seek New Options
Executives talk up automobile clients and cross border manufacturing as they stare down geopolitical risks and a consumer electronics slowdown
· Chinese Bank Trio Cut $11 Million in Bonuses to Deter Risk
China Merchants Bank, China Bohai Bank and Bank of Jiujiang withheld or recovered 77 million yuan in performance-based pay last year, sending a message to reduce risky behavior
· 11 Dead in East China Factory Blaze
The fire trapped victims on the third floor of a wooden door factory in Zhejiang province, local authorities say. An investigation is underway
· Citic Bank Promotes President Fang Heying to Chairman
Leader of risk management overhaul succeeds resigning Zhu Hexin; Liu Cheng named to fill Fang’s post as president
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This article was generated by Caixin Automation.
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