Caixin
May 11, 2022 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.75% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.75% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 1.8%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 3.12% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 3.07%.

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

· Key Shanghai Tesla, GM Parts Supplier Closes as Covid Sickens Workers

Wire harness maker Aptiv forced to suspend operations after finding infections among employees living and working in the factory

· Geely Takes One-Third Stake in Renault’s Korean JV

Chinese auto giant invests $207 million, gets two board seats and will provide technology and products for vehicles to hit market in 2024

· Xi, Macron Discuss Ukraine War in Phone Conversation

Chinese and French leaders agree on ‘urgency of reaching a ceasefire’ and urge peace negotiations

· Former Everbright Bank Branch Chief Under Graft Probe

Su Shude, ex-president of Nanning unit, joins parade of Everbright officials ensnared in corruption investigations

· In Depth: Coal, Once a Boon, Turns Chinese Rustbelt City Into a Bust

As the golden years of mining fade, the resource-depleted city of Hegang is struggling to survive

· Tech Insider: TikTok Owner Stokes IPO Speculation, Tough New Livestreaming Rules

Beijing weighs in on India’s Xiaomi asset seizure, CATL approved for $6.7 billion private placement

· Chinese Developer Shimao Sparks Bond Selloff by Seeking One-Year Extension

The property giant will hold a creditors’ meeting next week to vote on the proposal for the three-year bond due May 22

· Former China Supreme Court Judge Handed 14-Year Prison Sentence for Corruption

Wang Linqing accepted some 22 million yuan in bribes and illegally obtained state secrets, a court statement said

· China’s Capital Wants a Bigger Share of NEVs on Its Roads

Beijing plans for the local purchase quota for new-energy vehicles to account for a greater share of the city’s total by 2025

· Nasdaq-Delisted Luckin Coffee Denies It’s Planning Hong Kong IPO

Scandal-dogged Chinese Starbucks challenger says it remains ‘committed to U.S. capital markets’

Click here to read more of the latest news.

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