Caixin
May 13, 2022 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.96% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.96% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.59%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.22% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.29%.

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

· Weekly Must-Read: Why China’s Seniors Hesitate to Get Vaccinated

The government has been trying to get shots specifically into the arms of people over 60 for more than a year, yet the vaccination rate of this most vulnerable group has remained consistently low

· CATL-BYD Battery Rivalry Altered by Covid and Surging Material Costs

BYD gains market share in batteries as it makes it own electric vehicles while CATL suffers from depressed demand amid automaker shutdowns

· Parcel Delivery Services in Shanghai Make Slow Comeback

Volume reaches 1 million packages daily — a sixth of normal capacity — as authorities clear more services to resume after month of Covid lockdowns

· Didi Plunges as Business Recovery Hope Further Dims

Ride-hailing giant discloses it can’t complete its China cybersecurity review before it delists shares in New York

· Exclusive: China’s ‘Big Four’ Banks to Start Pilot Program for Retirement Savings Products

The state-run commercial banks will offer products in several regions, sources say

· Shanghai’s Covid Hospitals Struggle to Handle Patients With Other Serious Illnesses

City is grappling with a flood of cancer patients and seniors for whom Covid is just one problem of many

· Trending in China: Another Top Chinese University Withdraws From International Rankings

The decision by Beijing’s Renmin University sparks debate on the value of college rankings, as well as the impact it’ll have on its graduates’ career prospects

· In Depth: Zero Covid Slams the Brakes on China’s Electric Car Industry

Lockdowns have disrupted manufacturing and hurt consumer confidence, while surging material costs have taken a bite out of margins

· Property Giant Sunac Joins List of Chinese Developers That Can’t Pay Offshore Debts

China’s fourth-largest property firm by sales acknowledges it missed a $29.5 million interest payment on U.S. dollar bond

· China-Developed C919 Jet to Cost Twice the Expected Price, Filing Shows

To fund its fleet expansion, the airline plans to raise capital by selling A-shares to a group of up to 35 investors

Click here to read more of the latest news.

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