China’s benchmark Shanghai Composite Index (000001.SH) gained 1.6% on Friday, while the Shenzhen Component Index (399001.SZ) rose 1.82%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.87% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.69%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: China’s Record-Breaking Unemployment Rates Amid Covid Lockdowns
Surveyed urban unemployment rate came in at 6.1% in April, while the figure for 16- to 24-year-olds hit the highest ever recorded
· North Korea Reports Nearly 2 Million ‘Fever Cases’ in One Week
Deaths reach 63 as 7.7% of the population is sickened in a reclusive nation that rejected Covid vaccines as World Health Organization voices concern
· Shanghai Prepares to Partially Reopen Starting Sunday
Metal barriers begin coming down as authorities resume public transit operations after a month and a half of Covid-related lockdowns
· China Eases Covid-19 Test Rules for Air Travelers From More Countries
The requirements were updated to reflect the ‘current pandemic situation,’ the embassies say
· China’s Covid Pill Works Against Omicron, Trial Shows
Drug developed by Shanghai Junshi Biosciences and the Chinese Academy of Sciences shows good results in safety, tolerability and effectiveness in reducing viral shedding
· Chinese Banking Watchdog Says It’s Looking Into Rural Lenders Who Froze Online Services
The police have started an investigation into one shareholder of the village banks on suspicion it raised public funds illegally
· China’s Imports of Natural Gas Fall Amid Sluggish Domestic Demand
Importers are less willing to place spot trade orders this year due to high energy prices and the impact of the pandemic, customs administration says
· Shanghai Speeds Up Customs Clearance of Covid Vaccines and Materials
China’s biomedical R&D center creates ‘green channel’ to accelerate work on advanced coronavirus treatments and inoculations
· Chinese President Xi Jinping Pledges to Open Door Wider to World
On 70th anniversary of international trade council, leader vows cooperation on vaccine research and development and on global public health
· Private Developers Get Green Light to Issue Derivative-Backed Debt
Authorities look to ease property sector’s financing troubles by offering investors more risk hedging options
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This article was generated by Caixin Automation.
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