China’s benchmark Shanghai Composite Index (000001.SH) gained 0.76% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.74%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.48% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.7%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Central Bank Steps Up Rhetoric Against Rally in Long-Dated Government Bonds
PBOC signals that a mismatch between market prices and the country’s promising economic outlook will be corrected
· China Is Sinking, With Urbanization, Water Extraction And Mining to Blame, Science Study Says
Subsidence is happening so quickly that one in 10 homes in China’s coastal cities could be below sea level by 2120
· New Study Uncovers Persistent Covid Virus in Patients Months After Recovery
The Lancet study shows the Covid virus tends to be cleared out of the body slowly but can persist for several months in some patients
· TikTok Shop Faces Regulatory Hurdles in Bid to Become No. 1 in Vietnam, Expert Says
Following official criticism, ByteDance’s short-video juggernaut has slowed the pace of its expansion in the country
· Former Provincial Political Advisory Chief Booted From Party on Bribery Allegations
Han Yong, ex-chairman of the CPPCC’s Shaanxi Provincial Committee, engaged in cronyism, illegally accepted gifts and violated the party’s frugality code, CCDI says
· Japan Expects Flood of Chinese Tourists Over Labor Day Holiday
Related bookings have more than tripled year-on-year over the past week, according to travel agency data
· Analysis: Why China Should Kickstart Domestic Demand
Geopolitical tensions and a potential global economic slowdown mean overseas markets may do less to drive growth in future
· Shanghai Supermarket Chain Goes Bust As Business Slows
China’s slowing economy is forcing many consumers to cut back while others are turning to e-commerce
· Nonbank Payment Providers Get Five Years to Comply With New Rules
Guidelines clarify issues of concern in the industry and detail measures for complying with the new rules
· China’s Macro Leverage Ratio Rises to 294.8% Despite Slower Borrowing
China’s overall borrowing has been slowing down with total liabilities expanding only 8.8%, the lowest quarterly grown since 2001
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This article was generated by Caixin Automation.
