Shanghai Composite Index Rose 0.1% on Wednesday
Below is a rundown of the top China business and finance stories, plus other news for the day:
Some of Kangmei’s outside board members face $15.7 million of fines each in the drugmaker’s massive fraud, spotlighting the need to rethink their roles and responsibilities
Biggest Chinese artificial intelligence company discloses management and corporate structure in Hong Kong listing document
Amid sweeping overhaul to reduce lending risks, Jack Ma’s fintech separates Huabei from credit services offered by partners on its platform
French drug giant plans to use Chinese company’s technology in developing vaccines and therapies beyond Covid-19
Failing to report to antimonopoly authority before setting up a banking joint venture in 2017 cost the lender and search engine giant each 500,000 yuan
SenseTime says new draft rules proposed by the cyberspace regulator will not have a material and adverse effect on its business operations
Target is less than half the original $1 billion Cloud Village was rumored to be seeking ahead of its Dec. 2 listing
Launched in October, the program allows eligible residents from Guangdong to invest in certain wealth management products from Hong Kong, Macao and vice versa
Liang Yongping gets 3-1/2 years in prison after site found to have illegally copied and sold more than 30,000 Chinese and foreign TV shows and films
A spending spree on sales and marketing pushed the platform further into the red in the third quarter
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