China’s benchmark Shanghai Composite Index (000001.SH) lost 1.43% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.25%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.99% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.79%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Kaisa Group in Debt Restructuring With Citic Bank, Sources Say
Defaulted Chinese developer taps long-term creditor Citic for bailout linked to properties and gets new funds to complete underlying projects
· Henan Village Banks in Fund Freezing Scandal Replace Leadership
Four of the lenders name new chairman, supervisory board chairman and other senior executives in overhaul orchestrated by provincial government
· Uproar Over a Baby Taken During the One-Child Policy Days
Local South China officials suspended after rejecting parents’ request for an investigation of what happened to their months-old son in 1990
· Japan’s Shionogi Seeks China Approval for Covid Treatment
Pill would be the second oral therapy in China after Pfizer’s Paxlovid as Chinese drugmakers rush to develop competing medicines
· China, U.S. Urged to Manage ‘Cutthroat’ Competition and Avoid War Over Taiwan
Experts warned that the Taiwan Strait issue remains the greatest trigger to conflict between China and U.S., as they call for both sides to resolve their differences at the 10th World Peace Forum held in Beijing on Monday
· Chinese Silicon-Maker Tongwei Predicts Fourfold Profit Jump
Company expects income to top $1.8 billion as green energy push drives prices for solar panel raw materials to 11-year highs
· Tech Insider: Crypto Bets Lose Beauty App a Pretty Penny, More Investment in Flying Cars
Two Tencent vice presidents quit, Silicon wafer startup raises $672 million
· It’s a Bad Year to Find a Job in China’s Manufacturing Heartland
In peak hiring season, young workers face slumping wages and fewer opportunities in a Pearl River Delta grappling with Covid disruptions
· Flu Epidemic Sweeps South China as Covid Wanes
Since mid-May, there has been a spike in cases of the H3N2 influenza A virus in provinces including Guangdong and Fujian, prompting a medical expert to warn about potential outbreaks elsewhere
· In Depth: How Law Professors Take Turns to Serve China’s Courts
Academics can help rationalize judicial decision-making, in an effort to build a stronger community around the law
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This article was generated by Caixin Automation.
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