China’s benchmark Shanghai Composite Index (000001.SH) lost 1.34% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 2.14%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.4% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.3%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Xi Calls for More Cooperation Between China and South Africa
Chinese president meets with South African president on state visit ahead of BRICS summit, where leaders will weigh bloc expansion
· Hong Kong and Macao Ban Some Japanese Food Imports
Chinese special administration regions object to Japan’s plan to start dumping radioactive wastewater from damaged Fukushima nuclear plant
· U.S. Commerce Chief to Visit China Next Week
The announcement of Gina Raimondo’s trip from Aug. 27 to 30 follows Washington’s easing of export restrictions on 27 Chinese entities
· U.S. Eases Export Restrictions on 27 Chinese Entities
The Commerce Department says end-use checks had been successfully conducted, ahead of Secretary Gina Raimondo’s visit to China later this month
· Cigarette Industry Crackdown Nets Another Top Executive
Xu Shanshui, controlling shareholder and chairman of Anhui Genuine New Materials, is detained for investigation on suspicion of bribery
· Three Banks Fined $15.9 Million for Loan-Related Breaches
Regulators penalize Agricultural Bank of China, Minsheng Bank and Guangfa Bank in tightened scrutiny of irregular lending
· Country Garden’s Plan to Extend Bond Repayment Meets With Resistance
Bondholders will vote later this week on whether to approve the developer’s proposed three-year extension on a $541 million bond, or demand payment in full by Sept. 2
· Ex-Goldman Head John Thornton Joins Lenovo Board
The U.S. businessman and China expert has become an independent non-executive director and a member of the company’s Nomination and Governance Committee
· Cover Story: China’s ‘Hidden Debt’ of Local Governments Threatens National Economy
Property slump is undermining borrowers’ ability to repay
· China Launches Joint Crackdown on Organized Crime With Thailand, Myanmar
Laos is also part of the campaign to stamp out illegal gambling, fraud and human trafficking along the shared borders of the four countries
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This article was generated by Caixin Automation.
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