China’s benchmark Shanghai Composite Index (000001.SH) gained 0.65% on Monday, while the Shenzhen Component Index (399001.SZ) rose 1.19%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 3.34% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.98%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: After China’s Covid U-Turn, A ‘Tsunami’ of Infected Strip Bare Pharmacy Shelves
The wave of infections raging across the country has led to a rush on common drugs such as ibuprofen, but supplies remain scant, at least for now
· China’s Provinces Send Already Stretched Medical Personnel to Beijing to Battle Covid Peak
Local health officials told Caixin they too are operating at their limits as virus spreads like wildfire across the country
· Weekend Long Read: How the Key to Cutting-Edge Chips Came Out of the Netherlands, and Not China
Dutch firm ASML’s three-decade quest to dominate the high-end lithography machine industry isn’t something Beijing can replicate anytime soon
· China Starts Crackdown on Illegal Online Brokerage Apps
Securities and cyber regulators issue guideline targeting illegal stock recommendations and unlicensed applications
· Two Former Executives of P2P Lending Platform Sentenced to 20 Years in Prison
Tuandai.com’s former chairman and former general manager also fined $13.2 million as court sentences 47 people convicted in fundraising fraud
· Five Things to Know About Lifting the Ban on Chinese Developers’ Share Sales
Top securities regulator has offered a range of options for cash-strapped property companies to raise money
· Tech Insider: Xiaomi President to Step Down, TuSimple Plans to Cut Staff by 25%
Hackers threaten to blackmail Nio, EV-maker launches urban-navigation system in Shanghai
· Opinion: Why China’s Covid Health Codes Should Be Abandoned
Three experts weigh in on why authorities ought to scrap the once ubiquitous code and whether the underlying technology can be harnessed for other uses
· Weekly Must-Read: Why China’s Exports Are in the Doldrums
Demand has fallen off in recent months in the country’s three biggest markets, though the reasons vary by region
· Evergrande Reports Narrowing Differences in Debt Restructuring Talks
Debt-laden property giant says negotiations with creditors continue almost a half-year after missed deadline for a deal
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This article was generated by Caixin Automation.
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