China’s benchmark Shanghai Composite Index (000001.SH) gained 1.4% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 2.41%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.53% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.87%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Explainer: How China’s Updated Playbook Changes Its Covid Response
Ninth revision to guidelines alters diagnostic criteria, adds new treatments and modifies quarantine rules as authorities seek greater precision
· Tencent to Trim Workforce for Online Content and Cloud Business
Tech giant plans undisclosed job cuts in two of six major divisions, reflecting their slowing growth momentum
· Update: China Ambassador to U.S. Denies Beijing Knew in Advance of Russia Invasion
Qin Gang in Washington Post commentary calls such allegations ‘purely disinformation’ and declares that the Ukraine war ‘does no good for China’
· China Fights Back Against Plunging Stock Markets
Top securities regulator joins government response by vowing stability and urging traded companies to buy back shares to help prop up prices
· HNA Aviation Chairman Bao Qifa Taken Away by Police
Parent company HNA Group’s chairman and its CEO were also taken into custody last September in a probe of suspected criminal offenses
· Government Slams Carbon Emissions Trackers Over Data Fraud
Data verification agencies are crucial to keeping a lid on emissions, but keeping them honest is proving a challenge
· China Needs More Easing Despite Seemingly Upbeat Economic Data, Analysts Say
China’s economic data for January-to-February period beat expectations, but economists warned that the recovery needs more support
· Shanghai Curtails International Flights as Covid Surges
Starting March 21, a total of 106 international inbound flights operated by domestic carriers will be directed to other Chinese cities
· China Puts Property Tax Pilot Expansion on Hold to Ease Market Jitters
The conditions for expanding the program ‘are not available this year considering all aspects of the situation,’ finance ministry says
· Distressed Developer Sunac Has a Rollercoaster Day in the Markets
China’s third-largest real estate firm suffers steep declines in its stock and bond prices, only to see them bounce back after some market-soothing words from Beijing
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