China’s benchmark Shanghai Composite Index (000001.SH) gained 1.0% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 1.11%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.42% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.61%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Yunnan Whacks Power Supply for Aluminum Again
Second round of cuts in six months for electricity-hungry key metal will slash total output by 1.9 million tons as dry season saps hydropower
· China Eases Requirement of Negative Preflight Covid Tests for Some Countries
Travelers from nations including New Zealand, South Africa, Malaysia and Cambodia will still have to show a negative rapid antigen test result
· U.S. Approved 70% of China-Related Export License Applications in 2022
Agencies processed 40,000 requests with the goal of preventing advanced technology from falling into the hands of the Chinese military, according to the Department of Commerce
· Tech Insider: Sodium-Ion EV Battery Tech, China Mulls New AI Rules
Canada bans TikTok on all government mobile devices, Li Auto forecasts soaring first-quarter sales on expanded EV lineup
· How China’s Investment Funds Fared in 2022
The country’s mutual funds navigated a tumultuous year, with AUM hitting a record $4 trillion while the rate of return averaged a negative 8.5%
· China Threatens Retaliation After U.S. Sanctions Chinese Firms With Alleged Russia Ties
The foreign ministry also rejected Washington’s claims that Beijing is considering providing Russia with weapons, calling it ‘disinformation’
· Update: Li Yining, Who Helped Bring Private Investment to China’s State Sector, Dies at 92
The economist advocated for joint-stock reform of SOEs while overseeing the creation of the 1998 Securities Law
· Top Stories of the Month: The Safest and Most Endangered Jobs in a ChatGPT World
AI will replace simple, repetitive jobs, but those involving complexity, creativity and interpersonal skills will continue to thrive and remain the domain of humans
· Northeast Pharmaceutical Fined $19 Million for Jacking Up Drug Ingredient Prices
Leading Chinese drug-ingredients supplier illegally quadrupled costs for materials used to make a treatment for kidney dialysis patients, Liaoning regulators find
· Global Shipping Index Surges on China’s Recovery Outlook
Baltic Dry Index, a key leading indicator for world trade, jumps 64% in five days to highest reading since June 2020
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This article was generated by Caixin Automation.
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