China’s benchmark Shanghai Composite Index (000001.SH) gained 2.49% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 4.37%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 4.42% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 5.52%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Wuxi Allows Families With Two or More Kids to Buy a Second Home
Municipal health commission cites goal of promoting natural population growth by setting favorable conditions for larger families
· China Puts Its Foot on the Gas to Spur a Faltering Economy
Amid renewed pandemic disruptions, State Council issues sweeping guideless to bolster consumption, encourage new-energy vehicles, expand duty-free shops
· Five Things to Know About China’s Overarching Financial Stability Law
What’s the law’s purpose, who’s responsible for what, and major concerns over the proposed legislation
· Tech Insider: New CFO for Bytedance, American Car Chipmaker to Reopen in Shanghai
Paid robotaxi service licensed in Guangzhou, Honor now China’s No. 2 smartphone seller
· Chipmaker Onsemi Gets Go-Ahead to Resume Shanghai Operations
Announcement comes after company said last week that it was running some of its shipments through Southeast Asia, sparking concerns of a potential retreat from China due to its ‘zero-Covid’ policy
· Chinese Citizens Submitted 20% More Requests for Government Information in 2021
Number of disclosure applications jumped to more than 440,000 after the scope of the system was expanded
· China’s Iron Ore and Rebar Futures Plummet on Weakening Demand
Government’s decision to reduce crude steel output cuts into iron ore prices, while Covid disruptions weigh on steel
· China’s Covid Outbreaks Take Bite Out of Local Economic Growth
Shanghai, Tianjin, Guangdong and Jiangsu reported a slower rate of growth in the first quarter against the country’s 4.8% GDP expansion
· Beijing Tightens Controls Amid Virus Flare-Up Fears
China’s capital city sets out to test most of its 22 million residents for Covid after 70 new infections appear since April 22
· BlackRock Venture Launches First Pension Product in China
BlackRock’s majority-owned joint venture in China launched its first pilot pension wealth management investment in government and financial bonds.
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This article was generated by Caixin Automation.
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