China’s benchmark Shanghai Composite Index (000001.SH) gained 0.79% on Friday, while the Shenzhen Component Index (399001.SZ) rose 1.5%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) ended nearly flat for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.22%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: China’s Proposed New Curbs on Private Securities Funds Spark Controversy
Draft rules tightening control of fundraising, investment and management have triggered concerns they will constrain securities funds’ freedom to execute their investment strategies
· Exclusive: CSC Financial Executive Steps Down Amid Inquiries
Li Geping, CSC general manager, taken away May 29 by authorities, who may be investigating matters related to his tenure as a financial regulator, Caixin learned
· Opinion: The Assault on Journalist in Bijie: More Than a Simple Case of ‘Physical Harm’
Attack on Jimu News reporter by local police sets off a public outcry that local authorities glossed over the obstruction of legitimate journalistic reporting
· China Southern Plans $2.47 Billion Share Placement
Airline plans to use most of the funds to pay for 50 new Airbus planes, part of a mega fleet expansion announced last July by three biggest state-owned carriers
· Wanda Group Expects to Pay $281 Million Note Due Saturday
Troubled conglomerate is in talks with several potential buyers of shopping malls and hotels as it scrambles to repay $1.25 billion within two months
· China Evergrande Unit Misses Payments on Wealth Management Products
A subsidiary of the debt-stricken developer says it didn’t have enough cash to repay investors
· Middle East Offers New Opportunities for China’s Belt and Road Investors, Analyst Says
Flush with cash from booming oil and gas sales, many countries in the region have the funds to pay for infrastructure construction
· Law Enforcement Personnel in Southwest China Detained for Assaulting Journalist
The police official and two auxiliary officers in Guizhou province were also dismissed from their positions for attacking the reporter, who was investigating the deaths of two local teachers
· China Names New Head of Communist Youth League as Twice-a-Decade Meeting Looms
Former vice governor of Jilin province, A Dong, has taken over as the first secretary of the secretariat of the league, which is known as the ‘helping hand and reserve force’ to the party
· Southern China Faces Tight Power Supply Amid Hot Weather
Demand in Guangdong surges just as supply from Yunnan hydropower plants dries up following low precipitation
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This article was generated by Caixin Automation.
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