China’s benchmark Shanghai Composite Index (000001.SH) gained 0.49% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.13%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.17% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.28%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Chinese Banks Mull Further Deposit Rate Cuts to Ease Margin Pressures
Lower interest rates paid to depositors will enable financial institutions to reduce charges for loans and help bolster the economy
· Sanan Optoelectronics and STMicroelectronics in EV Chipmaking Venture
Chinese and European semiconductor producers to invest $3.2 billion in Chongqing factory making silicon carbide devices used in electric vehicles
· Wrongfully Convicted Man Seeks $2.9 Million in State Compensation
Xie Zhehai, who was sentenced to life in prison in 1996 for the murder of a 22-year-old woman, was exonerated in November 2022 due to a lack of evidence
· Wanda Unit Seeking Hong Kong IPO Asked to Explain Its Business
China’s securities regulator asks Zhuhai Wanda for information on its transactions with shareholders and its safeguards against financial misconduct
· In Depth: The March of Chinese Robots Into Domestic Factories
After doubling their market share over five years, automated industrial machines are set to make further inroads in China thanks to demand from the electronics industry and for factory upgrades
· China Expresses ‘Grave Concerns’ Over Ukraine Dam Collapse
Top Chinese envoy to the U.N. urges all parties in the conflict to abide by international law and to do their utmost to protect civilians and civilian infrastructure
· Beijing Reports Two Monkeypox Cases
The capital is the second city on the Chinese mainland to confirm at least one infection of the disease among humans
· Tobacco Graft Crackdown Nets Another Retired Executive
Wu Yi, former deputy general manager of China Tobacco Yunnan, comes under investigation four days after former colleague Zhu Shaoming
· Fosun Pharma Secures $54 Million of IFC Loans for West Africa Plant
Côte d’Ivoire factory will produce anti-malaria and anti-bacterial drugs to improve public health across the region, World Bank unit says
· Junshi Biosciences Aims to Raise $4.77 Million From International Share Sale
Money-losing Chinese cancer drug maker plans offering of global depositary receipts to be listed on Swiss exchange as it raises cash for R&D
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
