Shanghai Composite Index Fell 0.51% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.51% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.23%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.34% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.8%.

Below is a rundown of the top China business and finance stories, plus other news for the day:

· China Mobile Aims to Become First Red-Chip Company on China’s Main Board

Plan to sell A-shares in Shanghai may blaze a trail for HK-traded companies incorporated abroad, but compliance issues mean it may take a while

· Energy Insider: China’s Coal Production on the Rise as NDRC Calls for Market Approaches to Reduce Pollution

EVE Energy to set up joint venture making battery materials; PowerChina scores 40% jump in construction contracts

· China’s Shipbuilding Giants Set to Combine

Global antitrust reviews clear merger of China State Shipbuilding and China Shipbuilding Industry to form China Shipping Group

· Exclusive: Huarong Gets New President Amid Pressure on Bonds

China Great Wall Asset Management’s Liang Qiang named to fill post vacant since December as restructuring report contributes to bond selloff

· China Extends Tariff Exemptions for Some U.S. Imports

In the absence of talks to resolve long-running trade spat, U.S. and China are maintaining the status quo

· In Depth: Huawei Sees Key to a Turnaround in the Cloud

Telecommunications giant is betting on businesses that will tap into two prominent global trends — digital transformation and carbon neutrality

· Tencent Music Posts Strong Growth Under Shadow of Antitrust Clampdown

Leading Chinese online music provider’s revenue jumps 24% in first quarter on growth in subscriptions, advertising services

· East China Official Who Dangled Job Promotions Jailed Eight Years for Bribery

Zhu Yingfu accepted $2.3 million to push career upgrades for more than 60 workers, corruption watchdog says

· Singapore Broker Up 536% In a Year Looks to China for More Gains

Although iFast’s Chinese operations are loss-making, its CEO said the nation is poised to become the wealth-management platform’s fastest-growing market

· NetEase-Sony Deal Is Latest Blow to Tencent’s Grip on Music in China

Regulators have reportedly informed Tencent that it should give up exclusive music rights

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This article was generated by Caixin Automation.

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