China’s benchmark Shanghai Composite Index (000001.SH) lost 0.93% on Monday, while the Shenzhen Component Index (399001.SZ) closed nearly flat.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.52% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.37%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: Chinese Pharma Turns to Global Deals to Cure Capital Crunch
Sales of drug rights and M&A transactions help offset investment slump
· Chinese Basketball Association Backs New East Asia League
Former NBA star Yao Ming, who heads the national body, said supporting the new Rising East Asia League would facilitate the long-term growth of a large-scale regional competition
· Nanjing E-Bike Parking Lot Fire Kills 15 After Spreading to Apartment Building
Another 44 were injured after the blaze broke out at 4:30 a.m. on Friday, once again placing a spotlight on the hazards of e-bike batteries
· PDD’s Use of Non-Compete Clause Called Into Question
Former employees told Caixin that they had been sued hundreds of thousands of yuan by the Temu-owner after taking jobs at other firms, despite them holding junior positions and not possessing company secrets
· Weekend Long Read: Officials Turned Influencers Drive Tourism Boom
Social media promotions by local officials have brought droves of visitors and big gains in revenue to Northeast China’s Harbin, but doubts persist about its sustainability
· China’s Securities Regulator Promises Strict Crack Down Financial Fraud
The cost of breaking the law will get higher and higher, says CSRC’s enforcement bureau chief as listed companies come under tight scrutiny
· Chinese EV Startup HiPhi’s Founder Tries to Save Company in Three Months
Ding Lei says he will use the three-month window to try and save the company. If I fail, at least I tried, he said
· Opinion: China Needs Better Mechanisms to Help Stock Market Recover
Tightened regulation of IPOs and delistings, stemming speculative trading and heightening investor protection are necessary for robust development of the stock market
· In Depth: China Quant Funds in Firing Line Over Stock Market Volatility
Regulators flag concern that sophisticated computer modeling used by some investors is fueling volatility in equity markets
· Huawei Returns to Foldable Smartphone Market With New Compact Handset
The Pocket 2 is the first foldable released by the company since 2022 and reportedly runs on its cutting-edge Kirin 9000S chip
Click here to read more of the latest news.
This article was generated by Caixin Automation.
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