China’s benchmark Shanghai Composite Index (000001.SH) lost 0.73% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 1.27%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.81% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.28%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Energy Insider: Former Chairman of Datong Coal Mining Under Investigation
Lithium prices are expected to continue rising after tripling in 2021; China becomes the world’s largest LNG importer; Shanghai Electric Power warns of loss on high coal costs
· Kangmei’s Former Chief Gets 12 Years in Final Verdict
Appeals court upholds prison sentence for Ma Xingtian as well as $188,300 fine in the drugmaker’s massive financial fraud
· Developer Agile Agrees to Sell 14 Properties for $439 Million
Hong Kong-traded company joins other cash-strapped Chinese property companies selling assets to raise funds and avoid defaulting
· China Wages Two-Front War With Omicron and Delta on Eve of Winter Olympics
Local transmission of the Covid-19 variants causing headaches in Beijing ahead of the games
· Corruption Probe of China Life’s Chairman Was No Surprise, Sources Say
Wang Bin is under investigation on suspicion of serious violations of law and party discipline
· Real Estate Marketplace Fangdd Faces Nasdaq Delisting
The Shenzhen-based company has until early July to get its stock price back above a buck
· Most University Lab Accidents in China Caused by Human Error, Study Finds
Researchers call for better safety standards in review of the 110 reported laboratory accidents that occurred from 2001 to 2018
· China’s Biggest Private Tutor Laid Off 60,000 Staff in 2021 Amid Education Crackdown
New Oriental also had to pay out $3.1 billion as it radically downsized its operations
· In-Depth Analysis: Western Tech Firms Will Expand in Southeast Asia
Despite several internet restrictions in Southeast Asia, foreign tech firms are increasingly interested in the region
· Opinion: Why 2021 Was a Great Year for the Opening-Up of China’s Financial Markets
Expansion of the Bond Connect program and greater inclusion of Chinese government bonds in global indexes have made the country’s markets more connected than ever to the rest of the world
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This article was generated by Caixin Automation.
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