China’s benchmark Shanghai Composite Index (000001.SH) gained 0.12% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.24%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.43% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.47%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Luckin’s New Moutai-Laced Lattes Create a Stir in China’s Coffee Wars
Beverage with a taste of Kweichow Moutai’s baijiu generates sales of 5.42 million cups on first day and tops discussions on social media
· Former Top Xiamen Legislator Sentenced to Life in Prison
Chen Jiadong, who pleaded guilty to taking $13 million in bribes, becomes the 16th senior official sentenced this year in graft crackdown
· Tech Insider: China’s Soaring Solar Giants, Huawei Scores Big With New Phone
Tesla’s China deliveries rebound, EV war gets uglier
· Senior Provincial Official Stung in Corruption Crackdown
Shang Liguang, the deputy party chief of North China’s Shanxi province and National Party Congress delegate, is suspected of graft
· Beijing Passes Law Allowing Foreign States to Be Sued in China
Under the new Foreign State Immunity Law, foreign state entities locked in a commercial dispute with a Chinese citizen or company may end up in court
· Opinion: Can China’s Latest Policies Turn the Tide on the Housing Slump
Measures introduced last week including a cut in down payments and mortgage rates for second-home buyers will boost the market in the short term, but the long-run impact is unclear
· China Creates New Agency to Support Private Sector
Private economy development bureau will report to the NDRC and be assigned to bolster the economy’s biggest source of jobs
· China’s ‘Copper King’ Barred From Nonessential Spending
Court issues order affecting billionaire Wang Wenyin and his Amer International Group in relation to contract disputes
· Caixin China New Economy Index Expands on Rising Investment
The gauge that tracks the size of high value-added industries such as biotech ticked up to 30.4 in August, the second straight month of growth
· Cover Story: Are Chinese Solar Giants Flying Too Close to the Sun?
Ballooning excess capacity, which already outstrips demand, could force out many Chinese solar companies in coming years amid tumbling global prices
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This article was generated by Caixin Automation.
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