China’s benchmark Shanghai Composite Index (000001.SH) gained 0.48% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.5%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.88% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.25%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Leading Auto Dealer Faces Delisting as Stock Sinks
Brutal price war and the ‘aggressive expansion of its equity’ blamed for delisting
· Central Bank Inspects Lenders’ Bond Holdings to Mitigate Risks
Move is to scrutinize and, if need be, recalibrate banks’ bond investment strategies
· China’s Youth Jobless Rate Falls for a Third Month to 13.2%
Jobless figures encouraging but concern at 11.8 million graduates entering the job market this year
· Surge in Demand for Shanghai’s Glitzy Office Space, But Rents Still Falling
Significant price cuts fire up demand, but vacancy rates remain high with more new offices being built
· Mainland Financial Firms’ Hong Kong Units Tell Staff to Repay Bonuses
Sources also say some financiers with unpaid deferred bonuses will never receive them
· Fugitive Chinese Billionaire Guo Wengui Convicted in U.S.
Businessman-turned-influencer faces decades in prison for racketeering conspiracy, money laundering and multiple frauds
· Former Bank of East Asia China Unit Exec Banned From Banking for 10 Years
The former branch president is penalized by the country’s top financial watchdog over a string of shortcomings in his oversight of lending activities
· Ex-Branch President of Chinese Policy Lender Falls Under Graft Probe
Wang Fade’s case adds to a growing list of corruption scandals at the Export and Import Bank of China
· China’s Embassy in Thailand Warns of ‘Virtual Kidnappings’
Several Chinese students abroad have fallen for the scam, in which they are tricked into staging their own kidnapping so criminals can con their families out of money
· China Merchants Bank Expected to Take Over Tomorrow Holding’s Former Trust Unit
CMB deal to acquire New Times Trust to be ‘announced soon’, employee confirms
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This article was generated by Caixin Automation.
