China’s benchmark Shanghai Composite Index (000001.SH) gained 0.68% on Friday, while the Shenzhen Component Index (399001.SZ) rose 2.38%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.14% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.53%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cash-Strapped R&F Vows to Sell Assets as Cash Shortfall Widens
South China tiger licks its wounds as debt crisis deepens amid falling sales
· UBS Names Credit Suisse Veteran Janice Hu as New China Head
Janice Hu replaces Eugene Qian and is to lead UBS’s strategic initiatives and business growth in China
· China Life Expects New Chairman After Surprise Departure of Incumbent
President Cai Xiliang has been appointed to replace Bai Tao as chief of the group’s Communist Party committee
· Energy Insider: Power Shortages Hit Chengdu, New Steel Projects Suspended
State energy giants form hydrogen consortium, local governments go big on energy storage, Beijing pushes for green data centers
· Macao’s Former Top Judge Announces Leadership Candidacy
Sam Hou Fai pledged to push forward the gambling hub’s drive for economic diversification, fully implement ‘one country, two systems’
· Air China, China Southern Take First Deliveries of Domestically-Made C919s
The two carriers join China Eastern Airlines in operating the first Chinese-made commercial passenger jets as part of their $20.7 billion order for 200 of the Comac planes
· Veteran Forex Regulator Poised to Lead China’s Exim Bank
Wang Chunying, who has more than three decades of experience, expected to take over from President Ren Shengjun
· In Depth: Ambiguous Reef Protection Laws Leave China’s Coral Sand Traders High and Dry
Unclear definition of what exactly is illegal to harvest has resulted in a legal conundrum for small coral sand businesses, with some facing jail
· Former Shanghai Legislative Chief Sentenced to Life in Prison for Bribery
Dong Yunhu accepted some $21 million in bribes in return for favors in financing, land sales and personnel appointments
· Weekly Must-Read: China’s Tightening Rules Put Foreign High-Frequency Futures Traders in Limbo
Some firms that have operated for years in a gray area are now struggling to find a compliant way to continue running their businesses in China
Click here to read more of the latest news.
This article was generated by Caixin Automation.
