China’s benchmark Shanghai Composite Index (000001.SH) gained 0.08% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.9%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.71% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.16%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Exports Surge More Than Expected in Economic Boost
Exports rose 7.6% in dollar terms in May, while imports increased 1.8%, customs administration says
· Kuaishou Unveils a Rival to Sora That Produces Video From Text
‘Kling’ has the ability to transform a few words of text into a high-definition video lasting up to two minutes
· Former Provincial Legislator Charged of Taking $59.3 Million Bribes
Veteran of the coal industry pleads guilty to accepting bribes and will be sentenced at a later date
· Red Sea Crisis Causes Gridlock as Chinese Exporters Try to Beat U.S. Tariff Deadline
Container congestion at Asian ports getting worse although experts say things should improve soon
· Coffee Goes off the Boil in China as Tims, Luckin and Starbucks Report Q1 Slump
Low prices and rapid expansion costs have ground down China’s coffee shops’ profitability
· Exclusive: Manulife’s China Mutual Fund Firm to Name New President
Kevin Ding, China managing director of Canadian financial conglomerate’s global asset management arm, is a possible candidate, sources say
· Ex-Securities Watchdog Chief Appointed to Top Political Advisory Body
Yi Huiman, who was removed as head of the CSRC in February, oversaw several major reforms to the securities market in his five years at the helm
Beijing said to set up solid-state battery fund, battery-makers concerned over draft EU carbon footprint rules, major pumped-storage power station begins operation
· Founding President of ShanghaiTech Uni Steps Aside For ‘Younger Generation’
Jiang Mianheng has assumed chairmanship of the university's governing board, while the presidency has been handed to physicist Feng Donglai
· China Imposes First Fine on Nonbank Payment Provider Under Stricter Regulation
The company was fined $3.9 million for a slew of violations including noncompliance with anti-money laundering rules
Click here to read more of the latest news.
This article was generated by Caixin Automation.
