Shanghai Composite Index Rose 0.84% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.84% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 1.39%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.7% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.64%.

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

· Tianjin Cancels Planes, Trains and Buses After Omicron Cases

City of 14 million launches mass testing, turning up 97 Covid infections, and requires negative test results and approval from authorities for leaving town

· Bank of Lanzhou Prices Shares Below Book Value

State-backed regional institution raising $319 million in Shenzhen Stock Exchange becomes first publicly traded bank to sell undervalued stock in a tepid market for such shares

Ren Zeping's proposal to put a price on solving China's falling birth rate problem triggered heated debate online

· Tech Insider: Alibaba Chief Quits Weibo Board, New Foldable Phone

Xpeng invests in lidar-maker Zvision, chipmaker TSMC reports record monthly sales

· Tighter Controls on Spending Pre-Sales Revenue Set to Worsen Developer Cash Crunch, Analysts Say

Local governments have tightened oversight to ensure the funds are used for finishing the relevant housing projects amid concerns over the possibility of social unrest

· Fresh Graduates in China Flock to Government, State Firms

Some 49.3% of respondents in a survey of 20,000 graduates across the country secured a job in the civil service, public institutions and state-owned enterprises

· Bank of East Asia Unit Fined $2.6 Million for Violating Credit Information Rules

Hong Kong-based Bank of East Asia says the subsidiary has since rectified the issues, noting that it ‘places high emphasis on compliance’

· China Updates Dozens of Rules for Listed Companies

Amended regulations cover a variety of issues, including company management, shares sales, use of funds and trade suspensions

· Evergrande Abandons Landmark Building in Shenzhen

The troubled real estate developer has moved most of its headquarters staff to its old home in Guangzhou

· In Depth: Scenic Yunnan Battles to Protect Its Lakes

The province has demolished hundreds of buildings illegally built on ecologically sensitive land, as it combats local corruption to preserve its environment

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