Shanghai Composite Index Rose 0.61% on Wednesday
China’s benchmark Shanghai Composite Index (000001.SH) gained 0.61% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.7%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.02% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.34%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
Gao Fubo sentenced to 20 years for receiving millions of yuan in bribes as a fourth former chief awaits trial on corruption charges
Lu Jiajin, a former China Construction Bank vice president, tapped to fill vacancy left by 2019 retirement of Gao Jianping
Debt-laden province in eastern China orders poorly performing local financing vehicles to get investor approval before taking on more debt
Banking and insurance regulator outlines four avenues for managing $90 billion of investments that could go bad
Shanghai consumer watchdog summons the tech platforms over a plethora of problematic behaviors
Real estate companies’ net borrowing through bonds turned positive for the first time in nine months in April after amount of debt coming due begins to shrink
Colin Huang takes top spot on the Hurun Philanthropy List 2021 after pledging billions, with much of it slated for scientific research
Major Hong Kong tech index of Chinese stocks slumps more than 3% on Tuesday, and is down 10% since late April in step with a global internet slump
Personal financial pressure is the biggest factor discouraging women in the city from raising children
Undisclosed number of vendors’ goods cut from online giant’s shopping platforms ahead of annual sales promotion
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