China’s benchmark Shanghai Composite Index (000001.SH) gained 1.44% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 2.93%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 3.14% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.37%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· CSRC Vows to Crack Down on Malicious Short Selling to Stabilize Stock Market
Those who dare to flout the law will ‘lose their shirts and rot in jail’, warns regulator in moves to curb market manipulation
· Chinese Stock Brokerages Reports Strong 2023 Profits Despite Market Slump
Investment gains and growth in investment banking saw 17 companies increase profits from 2022, while seven said profits had at least doubled
· In Depth: China Set for Interest Rate Cuts to Support Economy
Analysts expect the PBOC to lower borrowing costs in the first or second quarter as a shift in U.S. monetary policy gives it more room to maneuver
· China Approves Mercedes and BMW Charging Network Venture
Joint venture between two of the German automakers’ subsidiaries aims ‘to provide Chinese customers with premium charging services’
· Snow and Human Error Caused Beijing Subway Collision, Investigation Finds
The crash that sent 515 people to the hospital occurred because of a dispatcher mistake and the train driver’s failure to apply the brakes in time
· Former Provincial Party Chief Expelled for ‘Meddling With Judicial Activities’
Sun Zhigang, Guizhou’s ex-Communist Party secretary, is also suspected of using his influence to help others in return for money and gifts
· China’s Star Fund Manager under Investigation, Sources Say
Founder of Qianhe is at the center of an insider trading probe and is said to have stepped back from his company for personal reasons
· Ex-Chief of China Merchants Bank Receives Suspended Death Sentence
Former CMB chief admitted taking $28.8 million in bribes and making $40 million through insider trading
· Ex-Taiping Life Boss Booted From Party for Alleged Graft
Zhang Ke, former general manager of the state-owned insurance giant, exploited his power for others in exchange for ‘huge sums’ of money, top graft buster says
· China’s Top Legislature Confirms Ousted Military Officials Violated ‘Discipline and Law’
Nine former senior officers got booted from the National People’s Congress last year for suspected ‘serious violations of discipline and law,’ a euphemism used by the country’s graft-busters for corruption
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.
