China’s benchmark Shanghai Composite Index (000001.SH) gained 0.09% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.59%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.35% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.63%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s GDP Grew 4.7% in Second Quarter, Missing Expectations
The figure came in lower than the average estimate of 5.1% growth in a recent Caixin survey of economists
· Cover Story: China’s Once-Booming Online Healthcare Sector Sees Its Vital Signs Sink
Investors turn skeptical as HaoDF, Chunyu Yisheng and Ping An Good Doctor cut jobs
· China’s Waterborne Cooking Oil Tankers Also Shipping Chemicals, Fuel, Sources Say
It’s common for ships to transport both cooking oil and non-edible oils that could be toxic to humans, a Caixin investigation has found after a media report revealed a similar practice among tanker trucks
· Mixed China Trade Data Shows Uneven Economic Recovery Continues
June exports grew at fastest pace in a year, but the positive data was tempered by an unexpected dip in imports on weak domestic demand
· Overdue Commercial Bills Reveal Strained Capital Chains in LGFVs
As of the end of June, 1,397 LGFVs had commercial bills for which payment was overdue, data show
· Trio of Chinese Shipping Giants Splurge on Over 200 New Vessels
Cosco Shipping, CMG and CHN Energy are expanding their fleets following a government directive to increase the nation’s domestic shipping capacity
· China Plans Tougher Solar Manufacturing Rules to Slow Expansion
Proposed regulations set higher bars in several areas for new production capacity
· Iron Ore Swings Higher as Traders Await China Policy Signals
Prices of the steelmaking material underwent wild swings this week amid mixed market signals ahead of next week’s big political gathering in Beijing
· Cutting-Edge Drugmaker Biokin Taps Hong Kong Market to Fund Foray Aboard
Funds raised from the Hong Kong IPO will mainly support Biokin’s overseas expansion, according to the prospectus
· Former Deputy Head of China Taiping Pleads Guilty of Taking $11 Million in Bribes
Xiao Xing’s crimes spanned 25 years during which he illegally received and gifts, the procuratorate said
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This article was generated by Caixin Automation.
