China’s benchmark Shanghai Composite Index (000001.SH) gained 1.12% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.31%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.14% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.11%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Driverless Truck Startup TuSimple Plans China Business Spinoff
Move by U.S.-China venture would address data security concerns raised by governments on both sides
· President Xi Jinping Set to Speak With Biden Friday
Chinese and American presidents plan to continue discussions on the Russia-Ukraine war as well as getting bilateral relations back on track
· Five Chinese Drugmakers Sign Up to Export Generic Paxlovid
UN-backed group designates Desano, Huahai, Apeloa, Fosun and Jiuzhou among 35 companies to make low-cost versions of Pfizer’s Covid pill for poorer countries
· China to Cut Transaction Settlement Fees to Reduce Capital Costs
As part of government response to massive equities sell-off, China Securities Depository and Clearing Co. will also waive certain registration fees
· In Depth: China’s Tightening of Online Insurance Sales Starts to Bite
Rules introduced to stop misconduct and sales of risky products have forced some insurers to suspend or stop offering some personal insurance products on the internet
· Trending in China: Child Dies as Hospital Refuses Admission Without Covid Test Result
A 4-year-old girl died of acute laryngitis in the outbreak-struck city of Changchun, sparking a firestorm of criticism
· As Lithium Surges, BYD Raises EV Prices for Second Straight Month
Price hikes are growing increasingly common across the industry due to skyrocketing raw material costs
· Deutsche Bank Joins Global Peers With Link to Beijing Stock Exchange
The German lender can help qualified foreign investors trade shares on the bourse
· After Battling Power Shortages, China Reignites Mothballed Coal Plants
The two Gansu province plants will generate during ‘peak load’ periods, state-owned giant Huaneng says
· China’s First Two Financial Holding Companies Win Approval
Citic unit and Beijing Financial Holdings get central bank’s nod some 18 months after it released rules to tighten oversight of nonfinancial conglomerates
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This article was generated by Caixin Automation.
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