China’s benchmark Shanghai Composite Index (000001.SH) lost 1.33% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 1.56%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.67% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.38%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· FAW and Nio Join Forces to Charge Up Battery-Swap Network
EV makers are to collaborate on standardizing batteries and building a charging and battery-swap network
· Former Head of Bank of Guizhou Investigated for Graft
Xu An under investigation for corruption two months after being removed as head of Bank of Guizhou
· China’s Booming Green Exports Face Tariff Barriers
Washington may put a dent in the overseas sales of EVs, batteries and solar cells after they saw a surge in the first four months of the year
· Finance Veteran Picked to Be President of China Life Asset Management, Sources Say
Huang Benyao will take over from Wang Junhui, who left the company last year to serve as chairman of China Life Pension
· IDG Capital Partner Possibly Provided Info in Insider Trading Case, CSRC Says
The partner possibly gave information about a planned M&A deal to a bank employee who later made about $5 million trading shares of a company involved, CSRC says
· Vice Chairman of Hainan Legislature Probed for Corruption
Liu Xingtai spent decades working in Shandong before moving to the tropical island province in 2018
· China’s First 30-Year Special Treasury Bond Halted Twice in Trading Debut as Price Surges
The $5.6 billion bond closed up 1.3% in Shanghai and 19.7% in Shenzhen after its first day of trading
· Amer Sports First-Quarter Revenue Beats Expectations on Strong China Sales
Chinese-owned Finnish sports-equipment maker posted a 13% rise in sales, with Greater China its fastest growing market
· China Bank Chiefs’ Shakeup Gathers Pace
Agricultural Bank of China and Bank of Communications both announce new deputy chiefs of their Communist Party committees, appointments that normally precede designation as president
· In Depth: China’s Dwindling AI Chip Stockpile Leaves Little Room for Sora Copycats
Chinese enthusiasm for generative video has been notably cool compared with the frenzy over ChatGPT-style large language models
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This article was generated by Caixin Automation.
