China’s benchmark Shanghai Composite Index (000001.SH) gained 0.07% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.47%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.15% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.39%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: China’s Consumers Are Flush With Cash, So Why Does the Recovery Have the Wobbles?
Risk averse consumers are shying away from borrowing and instead focusing on saving their cash and repaying debts, undermining the effectiveness of loose monetary policy
· Chinese Official Rebuffs Pentagon Chief’s Criticisms at Security Summit
Lloyd Austin’s comments about Taiwan at the Shangri-La Dialogue ignored the facts and distorted the truth, Chinese lieutenant general Jing Jianfeng says
· Chinese Computer Maker Says Its Chip was Made With ‘Support’ From Intel
Powerleader Computer System came under fire after industry experts revealed its new processor unit was seemingly identical to a product made by the U.S. giant
· Weekend Long Read: How to Get China’s Super Savers to Spend More
The growing tendency to sock money away in banks poses a challenge to the economic recovery
· Tobacco Corruption Probe Ensnares Retired Top Yunnan Executive
Zhu Shaoming, former head of China Tobacco’s biggest provincial unit, comes under investigation by graft busters
· Another China Development Bank Ex-Official Comes Under Probe
Graft busters focus on Mao Juncai, former president of top policy lender’s Shanghai branch, adding to a long list of scandals
· Syngenta’s $9.4 Billion IPO Picks Up Steam in Shanghai
Year’s biggest share sale starts clicking along after the ChemChina unit abandoned its STAR Market plan
· Caixin China New Economy Index Rises on Surge in Venture Capital Levels
The gauge that tracks the size of high value-added industries such as biotech rose to 30.1 in May
· Tech Insider: AI Startup Mobvoi Files for IPO, Musk on ‘Decoupling’
Netherlands steps up chip spat with probe into Nowi deal, Alibaba embeds ChatGPT-like AI into two apps
· Chinese Minors Suspected of Aiding Telecom, Online Fraudsters Surge Twentyfold
The number of juveniles suspected of ‘aiding criminal activities on information networks’ jumped to nearly 5,500 last year as a government crackdown rolls on
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
