China’s benchmark Shanghai Composite Index (000001.SH) gained 0.55% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.72%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.24% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.53%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Former Senior CSRC Official Probed by Graft Busters
An Qingson, in custody of authorities since Nov. 7, suspected of corruption, Central Commission for Discipline Inspection says
· Central Bank Pushes Fintech Companies to Jump Into Credit Rating
China’s jumbled credit rating industry needs to consolidate and expand abroad, the PBOC argues in an opinion article following the Central Financial Work Conference
· Analysis: Xi-Biden APEC Meeting May Help Stabilize Ties, Won’t Change Fundamentals
The two leaders are expected to have ‘in-depth communication’ on issues of ‘strategic, overarching and fundamental importance in shaping China-U.S. relations,’ foreign ministry spokesperson says
· In Depth: Chinese Consumers Deluged With Cheap Loans
Banks are undercutting each other amid the government’s calls to support consumption and economic growth
· China Releases New Rules to Strengthen Penalties Against Telecom Scams
The move aims to toughen punishments not only for fraudsters, but also their facilitators, including those in the financial, telecom and internet industries
· Top Securities Firms CICC, China Galaxy Deny Merger Rumor
Both say they haven’t received any information about a tie-up from the government or controlling shareholders
· Government Borrowings Boosted China’s Credit Growth in October
New loans rise 17%, beating estimates, even as households borrow less amid the protracted housing market slump
· China Tells Government Units to Book Events at Fancy Hotels
Tourism Ministry proposes reversing 11-year-old corruption-fighting ban on using star-rated facilities as Beijing focuses on expanding tourism industry capacity
· Investigators Probe Fatal Fall of Businessman Implicated in Corruption Probe
Before his death, the chairman of a Changzhou-based company said in a last testament that he was coerced into confessing to accepting $1.1 million from a local official
· Alibaba, JD.com Report Double 11 Sales Growth
The e-commerce giants did not release specific figures, as they rolled out discount-heavy strategies to encourage spending as the world’s second-largest economy wrestles with sluggish demand
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This article was generated by Caixin Automation.
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