China’s benchmark Shanghai Composite Index (000001.SH) gained 1.22% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.27%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.11% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) ended nearly flat.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Shanghai’s Covid Lockdown Forces Scramble by Tech Supply Chain
As Apply suppliers Quanta and Pegatron suspend output, Biren, SMIC and Hua Hong dodge restrictions by having workers live in factories and offices
· Chinese Metal Tycoon’s Companies Fined $1.83 Billion by U.S.
Businesses controlled by Zhongwang founder Liu Zhongtian sentenced in conspiracy to evade customs duties on aluminum
· Flavored Vapes Banned From October as New E-Cigarette Rules Approved
Upcoming rules represent the final piece of the puzzle in the years-long development of China’s vape-management regime
· In Depth: Shanghai Residents Organize Themselves to Survive Lockdown Chaos
Mutual aid groups have stepped up to make up for official shortfalls, organizing food deliveries and other kinds of help for the city’s locked-down millions
· War in Ukraine Expected to Add $100 Billion to China’s Oil Import Bill
Construction of national strategic petroleum reserve system started in 2007 to safeguard supplies during energy crises
· Opinion: The Cost of China’s ‘Zero-Covid’ Strategy
With a new wave of Covid-19 flare-ups, the country will need to strive harder to hit its full-year GDP growth target of around 5.5%
· Proposal Seeks to Let Mainlanders Trade Hong Kong Stocks in Yuan
A task force has completed a feasibility study to facilitate trades denominated in the currency, a city financial official says
· Gas-Powered Car Sales Crash While EVs Boom
Shipments shrank by 11.7% in March while production fell 9.1%, an industry body says
· Charlie Munger-Linked Firm Unloads Nearly $40 Million in Alibaba Stock
Daily Journal slashes its holdings in the Chinese e-commerce giant by half, cashing in more than 300,000 shares
· China Is Running 70% Fewer Passenger Trains Than ‘Normal,’ Operator Says
Only about 3,000 trains are operating daily due to the suspension of many services from regions hit hard by Covid-19 outbreaks
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This article was generated by Caixin Automation.
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