China’s benchmark Shanghai Composite Index (000001.SH) gained 1.22% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 2.18%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.1% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.67%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Meheco Links Up With Pfizer to Market Covid Pill
State-owned drugmaker signs 2022 supply contract to commercialize Paxlovid as the first foreign treatment approved in China
· Huayou Cobalt Gets Hammered in Nickel Futures Debacle
Chinese metals company with links to squeezed nickel short-seller Tsingshan Holding loses $4.1 billion of market value in two days
· Hong Kong Shifts Covid Strategy to Reduce Surge in Fatalities
Mass testing plan goes on hold as authorities focus on vaccinating the elderly and expanding treatment capacity for the sick
· Leaders from China, France and Germany Press for Settlement to Russia-Ukraine War
President Xi Jinping says that the task for now is to ‘prevent the tense situation from escalating or even running out of control’
· Caixin Explains: Why China’s Central Bank Is Handing Over 1 Trillion Yuan to Treasury
The transfer is a sign of greater coordination of fiscal and monetary policy
· Bond Sales by China’s Top Property Developers Slump Amid Housing Crisis
Money raised by 100 of the country’s biggest real estate companies fell 58.8% in February, while offshore debt sales sank more than two-thirds
· The Chinese Stainless Steel Giant Facing Billions in Losses After Nickel Bets Sour
Fortune 500 member Tsingshan has extensive interests in Indonesia and is broadening its footprint in electric-car batteries
· Update: Chinese Metal Giant Faces Heavy Losses on Wild Nickel Ride
Tsingshan Holding’s massive short position gets the squeeze as Russia-Ukraine war drives prices even higher on already tight supplies
· Hong Kong Needs Mainland’s Help in Fighting Severe Covid Cases, City’s Leader Says
Carrie Lam says the city needs Chinese mainland medical teams to boost its capacity to treat severe cases as it battles its biggest ever Covid-19 outbreak
· In Depth: The Winners and Losers of China’s Credit Easing
With GDP growing just 4% in the fourth quarter, policymakers have loosened the credit tap, but some parts of the economy stand to gain more than others
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.
