May 05, 2022 03:03 PM

Shanghai Composite Index Rose 0.68% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.68% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.23%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.95% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.33%.

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

· Beijing Shortens Quarantines for Inbound Travelers, Close Contacts

New rules reflect characteristics of omicron Covid variant, which has a shorter incubation period and milder symptoms

· China’s Central Bank Vows Normalized Supervision of Tech Sector

The People’s Bank of China backs up Politburo signal last week that a year-long crackdown on the industry is drawing to a close

· PBOC Backs Coal Industry With $15 Billion of Credit

Central bank follows through on government commitment to increase coal production as China seeks to secure its energy supplies

· Five Things to Know About China’s Draft Rules on Local Financial Institutions

Draft regulations to strengthen supervision may be difficult to enforce and could even put unnecessary burdens on market participants, experts say

· Shanghai Pledges to Restart Work at Major Construction Projects

Authorities are under pressure to better balance Covid control measures with the needs of business as the city’s Covid-19 outbreak takes a toll on the local economy

· Two Killed in Changsha Building Collapse, 39 Still Missing

Dozens of people were thought to be still trapped under rubble of a building that appears to have undergone structural changes after its original construction

· Shrinking Capital Investment Drags Down Caixin New Economy Index

The share of high-value added industries in China’s overall economic inputs dropped to 28.8% in April from 30.6% the previous month, the NEI shows

· Kai-Fu Lee: The Real Story of AI

Like most technologies, artificial intelligence is neither inherently good nor evil and will eventually produce more positive than negative effects for our society

· Chinese Cities Push Expanding Families to Upgrade Their Housing

Shenyang, Dazhou and Wuxi move to shore up the beleaguered real estate market by offering better terms for families with two or three children

· Beijing Postpones School Reopenings on Virus Concerns

Labor Day holiday extended by a week for students until May 11 as number of Covid cases in flare-up reaches 453 in 10 days

Click here to read more of the latest news.

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