China’s benchmark Shanghai Composite Index (000001.SH) gained 1.2% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.55%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.54% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.56%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s New Premier Li Qiang Vows Support for Private Enterprises
Former party chief of Shanghai offers assurances of a market-driven and law-based environment for business, while acknowledging ‘inappropriate discussions’ last year that led to frustrations among entrepreneurs
· Cover Story: China’s Financial Industry Regulators to Get Reshuffle of Responsibilities
A new oversight authority, the National Financial Regulatory Administration, is approved at the annual meeting of the national congress.
· China Sticks With Its Central Bank Governor and Finance Minister
The decision to avoid a sweeping leadership reshuffle in both departments comes as the country undergoes a transition to a new administration led by Premier Li Qiang
· Weekend Long Read: What Li Yining Taught China About Economic Reform
The legacy of the renowned academic, who died last month, will live on in through his ground-breaking theories and efforts to use private capital to revamp how Chinese enterprises were structured in the post-reform era
· Xi Appoints Li Qiang as China’s Premier, Succeeding Li Keqiang
In the new role, the 63-year-old former Shanghai party secretary will lead the State Council, whose responsibilities include managing the country’s economic development
· In Depth: TikTok Walks on Thin Ice Amid Western Security Fears
As the U.S., Canada and the EU torque up pressure and restrictions, ByteDance fights to avoid a government-forced spinoff of its gold mine
· Direct Flights Resume Linking 10 Mainland Cities and Taiwan
Following three years of pandemic suspensions, the move is a step toward restoring cross-Strait travel
· Tech Insider: China’s New Data Regulator, PDD Looks Overseas Amid Slowdown at Home
World’s largest EV-battery maker CATL posts 93% rise in net income, WM Motor seeks new funding and parts suppliers to resume shuttered car production
Beijing and other parts of the region have been inundated by a wave of dust and pollution blown down from Mongolia, triggering the first sandstorm warning of the year
· Faraday Posts Losses, Awaits Capital to Start Making Car Unveiled in 2017
The EV-maker has postponed delivery on its first car model since 2018, but is angling to raise enough money to finally start production this month
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
