China’s benchmark Shanghai Composite Index (000001.SH) gained 0.23% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.29%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.63% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.69%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: The Disrupted Lifelines of the Shanghai Outbreak
How the city’s Covid flare-up is throwing a wrench into the gears of China’s business engine as 25 million residents struggle to meet basic needs
· Exclusive: State Creditors Sue Embattled Cedar Over Bond Default
Fortune 500 commodities giant missed interest payments on $1.24 billion of bonds held by two Guangzhou city government-backed enterprises
· Five Things to Know About China’s Private Pension System
The underdeveloped third pillar aims to supplement the first two by giving residents more options to save for retirement
· In Depth: How Kazakhstan Distances Itself From Russia to Pursue Domestic Reforms
The Central Asia nation is attempting a geopolitical balancing act amid the war in Ukraine as it moves ahead with political reforms that include limits on presidential power
· Shanghai Pledges Stricter Oversight of Pandemic Supplies After Complaints of Rotten Food
Logistics delays and problematic suppliers have left neighborhood authorities distributing spoiled produce to residents
· CATL Sell-Off Wipes Out Billions of Dollars of Market Value
Skyrocketing material costs shake investor confidence as rumor circulates of sharp drop in first-quarter earnings
· China to Add 300 Million Tons of Coal Capacity This Year
State Council vows to bolster energy security as coal is still king and accounts for 60% of China’s electricity generation
· Virus-Free Tibet Builds Two Makeshift Covid-19 Hospitals
Remote western region follows central government order responding to omicron emergency even though it hasn’t recorded a case in 810 days
· In Depth: China’s Planned Revamp of Trust Bailout Fund Draws Questions
Industry insiders wonder which companies will benefit from the proposal to split the fund in two, as well as whether the new funding system is equitable
· Shanghai’s Elderly Covid Patients Have a Hard Time Coping With Centralized Quarantine
Seniors, particularly those with health conditions, say they would prefer to self-isolate at home rather than at facilities with poor conditions
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This article was generated by Caixin Automation.
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