China’s benchmark Shanghai Composite Index (000001.SH) lost 1.54% on Monday, while the Shenzhen Component Index (399001.SZ) fell 1.85%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.94% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.89%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China Moves to Raise Retirement Age to Bolster Workforce, Ease Pension Pressure
Nation needs more workers to offset falling birthrates and ballooning retiree population
· China’s New Digital ID System Trialed Across Over 80 Apps
Internet users can now apply for their national digital ID by logging onto a mobile app called National Web Identification Pilot Version, developed by China’s Ministry of Public Security
· Director at East China's Suzhou Industrial Park Probed for Procurement Fraud
Zhu Huan has been suspended six days after a whistleblower publicly accused him of taking part in a procurement fraud scheme, gaining national attention on Chinese social media
· China Unveils Financial Measures to Elevate Tianjin Status within Beijing-Hebei Region
Comprehensive proposals unveiled to boost high-quality development of Tianjin
· China Offers Up To $20,000 Subsidy to Businesses Replacing Old Diesel Trucks
Policy is aimed at getting old, polluting lorries off the road and at boosting consumption
· Former Top Haitong Securities Exec Probed, Sources Say
Haitong says Jiang Chengjun has resigned as a deputy general manager ‘due to personal reasons,’ while sources tell Caixin he is being investigated
· Opening-Up Advocate Says Goodbye to China’s Top Securities Regulator
Fang Xinghai’s tenure coincided with a series of developments that gave foreign investors greater access to the country’s capital markets
· Scammers Ponder Next Step After Philippines Offshore Casino Ban
Chinese telecom fraud gangs who permeated the industry are looking for their next base of operations, with one scammer saying the crackdown is ‘no big deal’
· China’s Spending Slump Is Crushing Global Carmaker Profits
BMW and Volkswagen reported declining second-quarter earnings after their sales fell in the world’s biggest auto market, where a deepening housing crisis is weighing on spending
· Centaline Expands into Family Office Market With a $1 Billion Target for 2025
Hong Kong property agency seeks to diversify into asset management services for its high-net-worth clientele
Click here to read more of the latest news.
This article was generated by Caixin Automation.
