China’s benchmark Shanghai Composite Index (000001.SH) gained 0.94% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.71%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.94% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.53%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Vanke Continues Slimming Down with Asset Securitization
Builder sets up $311 million fund with partners to take over its interest in Beijing and Shenzhen malls
· Nanchang State Firm Takes Control of Private Lender Yumin Bank
Acquisition marks the first time a state-owned company has taken control of a Chinese private bank
To phase out the fossil fuel, the country needs a carefully planned roadmap, rather than more investment in ‘clean coal’ and ‘low-carbon coal’
· In Depth: China Amps Up Scrutiny of Freewheeling Securities Firms
Many companies have been stung for lax compliance, while new rules aim to restrict the sector’s capital-intensive businesses
· Former Provincial Governor Gets Suspended Death Sentence for Bribery
Li Zaiyong took advantage of his positions to help others get project contracts and land acquisition approvals in exchange for over $60 million in bribes, court says
· Extra Jobs and Higher Wages at Foxconn’s iPhone City for Latest Model
Foxconn stages recruitment drive in preparation for iPhone September launch
· Country Garden Services Expects 30% Profit Drop as Property Downturn Drags On
Property managers’ slight increase in first half revenue is accompanied by a significant drop in net profits
· Baowu, Rio Tinto’s Australian Iron Ore Project On Track to Begin Production Next Year
The $2 billion Western Range project will start producing its total goal of 275 millions tons of ore
· Unmarried Woman Who Sued Hospital for Refusing to Freeze Her Eggs Loses Appeal
A Beijing court upheld the verdict that the hospital did not break any laws when it made its decision based on her marital status
· Macao Takes Aim at Currency Exchange Services for Gamblers
Revised law would make offering such services in casinos and their connected hotels and shopping malls punishable by up to five years in prison
Click here to read more of the latest news.
This article was generated by Caixin Automation.
