China’s benchmark Shanghai Composite Index (000001.SH) gained 0.23% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.49%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.45% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.63%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Multiple Former ICBC Executives Under Corruption Probe
Cong Lin and An Liyan, former heads of ICBC’s Hong Kong-based investment banking unit, in corruption inquiry; several other former ICBC executives likely under investigation
· Changan Auto to Take Stake in Huawei’s New Smart Car Company
The Chinese tech giant is planning to launch a new unit as it ramps up efforts to get its auto business off the ground
· China to Offer Private Firms Bigger Helping Hand
Seven government agencies and one business group release 25 measures to provide greater financing to the sector
· China, Japan, South Korea Foreign Ministers Agree to Work on Reviving Leaders’ Summit
China’s Wang Yi also urged the three nations to restart negotiations on free trade agreements at a meeting in Busan Sunday
· Cover Story: Thanksgiving Dinner Reveals Price of ‘Bidenomics’
Falling food costs remain high as Fed reins in inflation. While economic growth shines, recession risks, though diminished, still loom
· China Fund Industry Group Toughens Rules on Managers
The self-regulatory body Asset Management Association of China issued rules to bolster compliance and protect investors’ interests
· Weekend Long Read: Zhou Xiaochuan Weighs In on the BRI Debate
China’s former central bank governor explains the dangers of the ‘debt trap’ narrative, the reasoning behind the Belt and Road Initiative, and issues that need to be addressed in its next phase
· China’s Regulator Probes Private Funds Over Multi-layered Investment Scheme
Chinasoft New Momentum Asset Management Co. Ltd., series of funds under investigation; inquiry into false information disclosure, possible criminal behavior
· Chinese Graduate School Applicants Drop for First Time in Nine Years
Odds stacked against young job seekers: gloomy employment picture cuts value of graduate education, students say; more selective entrance standard is another turn-off
· China Names New Forex Chief Amid Leadership Reshuffle at Top Financial Regulators
Zhu Hexin succeeds Pan Gongsheng as head of the State Administration of Foreign Exchange’s Communist Party group
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This article was generated by Caixin Automation.
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