China’s benchmark Shanghai Composite Index (000001.SH) gained 0.62% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.97%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.43% 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:
· Unigroup Clears Major Hurdle in Massive Revamp
Creditors and shareholders endorse $9.42 billion bailout led by JAC Capital and Wise Road Capital, overcoming resistance from 49% owner Zhao Weiguo
· Regulator Summons CICC Staff Over Lenovo’s Scrapped Listing Plan
Investment banking chief and four others criticized for inadequate due diligence in assessing Lenovo’s eligibility for STAR Market
· Year in Review: How Evergrande Shook China’s Real Estate Sector to Its Core
The property developer’s struggles to pay its creditors has made it a poster child for an industrywide debt crisis that seriously threatens efforts to bolster slowing economic growth
· China Passes Long-Awaited Law on Protecting Wetlands
Legislation specifies responsibilities of different government agencies for management of the ecologically valuable areas
· Caixin Explains: What China’s New Payment Rules Mean for Alipay, WeChat Pay
Regulations set to take effect March 1 aim to get small businesses to stop taking customer payments through barcodes generated by personal accounts on the platforms
· Xi’an Authorities Struggle to Figure Out How Covid Swept Through City
Media report suggests air conditioning system at city’s airport was the culprit that allowed the virus to spread from sealed off areas, leading to the lockdown of almost 13 million residents
· Beijing’s Teenage Boys Are Getting Fatter, Prompting Calls for More Exercise
With in-person classes often canceled since the pandemic began, school children have not been getting enough physical activity, experts say
· China’s Biggest AI Startup Aims to Raise $742 Million in Hong Kong IPO
SenseTime, which will go public Friday, delayed its IPO by two weeks after Washington’s latest blacklist barred U.S. investors from trading its shares
· China Huarong Sells Consumer Finance Stake to Bank of Ningbo
Divestiture of 70% of Huarong Consumer Finance for $172.6 million is part of asset management giant’s restructuring after it reached the verge of collapse
· China’s Largest Health-Care Mutual Aid Platform to Shut Down
Ant Group’s Xiang Hu Bao joins Meituan and Waterdrop in march to the exits after China tightens regulations covering online insurance
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This article was generated by Caixin Automation.
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