China’s benchmark Shanghai Composite Index (000001.SH) gained 1.84% on Friday, while the Shenzhen Component Index (399001.SZ) rose 1.62%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.09% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.62%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: China Vows to Create a ‘Bigger, Better, and Stronger’ Private Sector
Measures aim to create a more level playing field for private businesses and entrepreneurs amid sluggish economic growth
· China Plugs in National Platform for After-School Tutoring
Ministry of Education site hosts 111,000 tutoring institutions that passed muster on qualifications, capital, personnel and courses
· China Broadens Program Bringing Local Debt Out of Hiding
More local authorities can put hidden debt on the public books in a test of converting dodgy financing into formal government bonds
· China Tells Lenders to Help People Spend More
To shore up the economy, financial institutions should support household outlays for durable goods, education, culture, sports and entertainment, financial regulator says
· China’s First U.S. IPO Under New Listing Rules Moves a Step Closer
Majestic Ideal Holdings is one of 24 Chinese mainland companies to have filed registration materials with regulators under a new procedure for overseas listings
· Interview With Indonesian President Joko Widodo: A Unifying ‘Outsider’
The leader describes his primary political philosophy as ‘work, work, and work’ — with priorities on building trust, coming up with a tactical vision, and having the courage to make and execute decisions
· China Tech Stocks on Brink of Bull Market on Stimulus Hopes
Hang Seng Tech Index climbs 2.9%, extending gains from a May low to 19.7%
· Half of China’s Provinces Fall Behind the National Economy
Of 28 jurisdictions reporting first six-months GDP, 15 miss the national average of 5.5% growth, largely reflecting the real estate slump and slack manufacturing demand
· Graft Busters Probe Senior Guizhou Rural Banking Official
Ma Linbo, Communist Party chief and chairman of a rural credit union, is caught up in sweeping anti-corruption crackdown
· Troubled Bank of Qinghai Gets a New Top Shareholder
Provincial finance bureau takes over 19.71% stake from the province’s state-owned assets investment manager
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This article was generated by Caixin Automation.
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