China’s benchmark Shanghai Composite Index (000001.SH) gained 0.67% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.98%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.4% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.45%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Ant-Backed MYBank Fined for Anti-Money Laundering Violations
Central bank levies $3.5 billion for multiple violations including breaching rules on credit scoring and financial institution management
· Energy Insider: China, Russia Ink 30-Year Gas Supply Deal
Oil prices reach seven-year highs; China exports less refined oil products; Chile moves to nationalize copper and lithium resources
· Southwest Border City Baise Sealed for Covid Flare-Up
Authorities order lockdown after 56 new cases appear in just 24 hours, bringing the case count to 99 since Feb. 4
· Russia’s Gazprom Hails New 30-Year Gas Deal With China as Sign of Strengthening Ties
The agreement with CNPC will allow the export of up to 10 billion cubic meters of gas per year via a far eastern pipeline
· PBOC Accepts First Bid From Private Firm to Set Up Financial Holding Company
Central bank has been reviewing five applications, although Ant Group and Tencent have yet to make their submissions
· Trending in China: Video of Mother in Chains Causes Uproar
Xuzhou authorities were quizzed on why more hadn’t been done to help the woman, who was previously hospitalized with mental illness
· Luckin Pays $180 Million to Settle U.S. Fraud Charges
Scandal-wracked coffee chain is working on compliance procedures as part of a relisting plan, a source inside the firm said
· Hong Kong Ramps Up Covid Testing, Vaccination Drive as Cases Hit High
Now grappling with both the omicron and delta variants, the city has reported nearly 2,000 new cases over the past two weeks
· Beijing Winter Olympics Opening Ceremony Goes Carbon Lite
Organizers ditched the traditional igniting of a flaming cauldron to kick off the Games to demonstrate green commitment and showcased more universal themes as opposed to just traditional Chinese culture
· China’s Winter Sports Sector Skates to Glory With Olympic Boost, Analysts Say
Interest in skiing and ice skating has surged in the lead up to the Games, which is seen helping the industry shake off the Covid-19 chill on consumer leisure spending
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This article was generated by Caixin Automation.
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