China’s benchmark Shanghai Composite Index (000001.SH) gained 0.79% on Monday, while the Shenzhen Component Index (399001.SZ) rose 2.22%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 3.18% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 3.5%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: How Do the West’s Concerns About China’s Overcapacity Stack Up?
Visits this month by top U.S. and EU policymakers illustrate the conundrum they face as they seek support from Beijing on issues like market access and climate change, while scolding it on others like subsidies
· China Offers Subsidies for New EV and Low-Emission Gasoline Vehicle Trade-Ins
The old-for-new initiative will offer buyers up to 10,000 yuan from April 26 to the end of the year in a bid to spur sales after a slow early start to the year
· China to Evaluate Adjusting Share of State-Owned Capital in Finance Industry, Vice Minister Says
The comments by Liao Min came in response to concerns by the country's top legislature over the disproportionately large share in the banking sector
· Four Delegates Ousted From China’s Top Legislature Amid Corruption Probes
The delegates include Han Shuwang, former chairman at the China Aerospace Investment Holding and Yang Xiaoming, former chief engineer of Sinopharm
· China Industrial Profits Drop as Demand From Overseas Stalls
Flagging exports and deflationary pressures persisted in March, suggesting the economy’s stronger-than-expected growth early this year might be tough to maintain
· More Developers Face Debt Threats as Sales Continue Falling, S&P Says
Stress-tested developers could lack sufficient liquidity to meet debt repayments if property slump continues, warns rating agency
· CSRC Toughens Restriction on Ex-Employees’ Investment
Ban on investing in pre-IPO companies extended to 10 years for former securities regulators and their families
· Top Investment Bank CICC Warned by Regulator for Compliance Flaws
CICC accused of breaking rules by hiring personnel not qualified to carry out securities business
· Xi Says China, U.S. Should Avoid ‘Vicious Competition’ In Meeting With Blinken
U.S. Secretary of State Antony Blinken met with the Chinese president, as well as Foreign Minister Wang Yi, on his second trip in less than a year
· Huatai Securities Cashes Out of U.S.-Listed Unit With $796 Million Gain
Chinese brokerage announces sale of controlling stake in AssetMark to private equity firm GTCR for $1.79 billion
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This article was generated by Caixin Automation.
