Caixin
Jun 06, 2022 03:03 PM
FINANCE

Shanghai Composite Index Rose 1.28% on Monday

China’s benchmark Shanghai Composite Index (000001.SH) gained 1.28% on Monday, while the Shenzhen Component Index (399001.SZ) rose 2.66%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 3.86% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 3.92%.

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

· Cover Story: Balancing China’s Development With Need for Food Production

Government aims to harness market forces in managing the trading of land-use rights between urban and farming areas

· China to Launch Three Astronauts to Complete Work on First Space Station

Third crew to work on Tiangong will spend six months carrying out final assembly tasks

· Train Derailment in Southwest China Kills Driver, Injures Eight

Remaining 136 passengers evacuated after train hit a mudslide causing two cars to leave the tracks

· Chinese Energy Titan Sinopec Gets New President

Oil industry veteran Zhao Dong brings financial and overseas business skills to the position

· Archive Interview: Lee Hsien Loong on What Singapore Can – and Can’t – Teach China

In 2014, the Singaporean prime minister discussed a wide range of topics ranging from how to maintain Singaporean economic competitiveness to how the city-state positions itself in the regional and international geopolitical landscape

· Five Things to Know About China’s Plans for Regular Mass Covid Testing

Why is the country taking on this burden, how much will it cost and what barriers are there to success?

· Another Senior Securities Regulator Probed for Graft

Wang Zongcheng, ex-head of the CSRC’s accounting department, is the latest to be investigated as part of a campaign against financial sector corruption

· Weekly Must-Read: As Mass Covid Testing Becomes China’s New Normal, Debate Grows Over Who Pays

National Healthcare Security Administration says local medical insurance funds shouldn’t be used for large-scale programs

· Former Sanya Party Chief Sentenced to Death

Tong Daochi is convicted of insider trading and taking $43 million of bribes and is also sentenced to a fine and confiscation of all personal property

· Amazon Pulls Kindle E-Reader Out of China

E-commerce giant stops supplying devices to retailers and will close its Chinese digital bookstore next year, following retreats by other U.S. tech companies

Click here to read more of the latest news.

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