China’s benchmark Shanghai Composite Index (000001.SH) lost 0.68% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.1%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.07% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.06%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Caixin Explains: Why China Needs a New Green Power System and How it Could Work
Renewables are reshaping China’s power generation, but its pricing system is designed for fossil fuels. Things must change
· Guangzhou Relaxes Property Purchase Curbs on Foreign Buyers
Restrictions lifted for non-Chinese mainland home buyers in latest move to revitalize housing market
· Mass IPO Retreat in China as Stricter Listing Standards Come Into Force
Companies seeking a main board listing must show annual profits of $13.75 million to qualify
· Online Pharmacy Fangzhou Plummets 45% on Hong Kong Debut
Financials of hospital-to-home service platform show slowing revenue growth and substantial annual losses
· Another Taiping Life Executive Caught Up in China’s Crackdown on Graft
Ni Bo, a deputy general manager at the state-owned insurer, is being investigated for suspected corruption
· China’s State Grid Says It Will Stop Promoting ‘Problematic’ Officials
Following the corruption watchdog's investigation into a senior official, China’s biggest power grid operator said its new code of conduct will punish bribery
Residential surveillance at a designated location’ has been used to torture criminal suspects into making confessions, according to legal professionals and a case published by China’s top prosecutor’s office
· Deadly Philippines Kidnapping Highlights Growing Demand for Crypto Ransoms
Criminals who abducted two ethnic Chinese medical executives wanted payment in the stablecoin Tether
· German Optics Giant Kicks Off Production at New China Facility
Zeiss spent $34 million and two years building the site in Suzhou
· China Auto Roundup: Chinese Cars Dominate Israel’s Market, Huawei Sells Aito Trademarks
‘Vehicle-road-cloud integration’ pilot program to include 20 cities, spluttering car sales pressure dealers as inventories soar
Click here to read more of the latest news.
This article was generated by Caixin Automation.
