China’s benchmark Shanghai Composite Index (000001.SH) gained 0.41% on Monday, while the Shenzhen Component Index (399001.SZ) closed nearly flat.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.37% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.59%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Q&A: Ex-China MIIT Minister Shares How NEV Makers Can Build Powerhouse Global Brands
Miao Wei says Chinese car companies have far to go to reach their potential on world stage
· Cover Story: Nobel Laureate Economists Suggest China Tap Ordinary People’s Innovation
Michael Spence and Edmund Phelps say growth hinges on pivot from foreign trade to domestic demand
· Former Bank of Beijing Chairman Probed for Alleged Corruption
Yan Bingzhu, who dropped out of contact six months ago, is being investigated by the capital city’s graft busters for ‘serious violations of discipline and law’
· China Province Waives Highway Tolls for Hydrogen-Powered Vehicles
Shandong province’s two-year trial, the nation’s first, is part of a broader plan to boost the state-backed industry, whose growth has been hampered by high costs and lack of refueling infrastructure
· Two Killed in Shandong as Car Crashes into Group of Schoolchildren
Driver arrested after car careers into group of pedestrians, killing two and leaving six severely injured
· China Slashes Payment Barriers for Foreign Visitors
PBOC tells mobile payment services to increase the single transaction limit for foreign users to $5,000 from $1,000 to help revitalize tourism
· Commentary: Stamp of Approval for Hong Kong’s Property Rescue Package
Property transactions will no longer be subject additional stamp duty, buyer’s stamp duty, and new residential stamp duty, a move both substantial and commendable
· Guizhou Probes Arrest of Contractor Owed Millions by Local Government
The announcement followed a report that a businesswoman was detained after seeking more than 200 million yuan for unpaid work, shining a light on the debt woes of regional governments and treatment of private businesses in China
· More Chinese Companies to Join FTSE Global All Cap Index
Stocks include chip designer Vanchip Tianjin Technology, biotech company MGI Tech, and brokerage Capital Securities
· Energy Insider: China’s Trading of Wind, Solar Power Jumps
Biomass power capacity gets 2030 targets, guidelines for pumped hydropower, industrial sector to have standards for ‘dual-carbon’ goals
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This article was generated by Caixin Automation.
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