Jun 15, 2022 03:03 PM

Shanghai Composite Index Rose 0.5% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.5% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.95%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.73% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.05%.

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

· Opinion: Red Flag in Henan’s Bogus Red Health Codes

Authorities can’t abuse pandemic-management system to target individuals without fueling public panic and distrust of government

· Did Henan Authorities Abuse Virus Controls to Stymie Swindled Bank Depositors?

Investors planning to gather in Zhengzhou for June 13 protest find themselves locked down as their health risk codes suddenly turn red

· China Denies Warning Global Banks on Executive Pay

Report that regulators summoned top bankers wasn’t factual, CSRC says in statement declaring importance of a reasonable compensation system

· China’s Efforts to Prop Up Property Market Fall Short

While local governments have taken steps to stimulate the ailing sector, both supply and demand remain weak

· Tech Insider: Geely’s Smartphones Drive, TuSimple Co-Founder Starts Own Self-Driving Truck Venture

Hikvision considers spinning off robot unit, Didi departs NYSE, and China’s NEV sales more than double

· Beijing Closes Dozens of Bars in Sanlitun Amid Covid Resurgence

As new case numbers continue to grow in the city, authorities are conducting sweeps to root out bars and underground venues violating Covid regulations

· Shanghai Tries New Tactics to Stamp Out Crypto Mining

Companies running data centers are required to conduct self-checks and pledge not to engage in the power-hungry activity

· Trending in China: Uproar After Anti-Covid System Seemingly Used to Stop People Taking Cash Out of Banks

Depositors who wanted to withdraw money from Henan province banks reportedly had their travel curbed by regional pandemic control platform

· Livestreaming E-Commerce Revives Fortunes of Tutoring Giant New Oriental

The Chinese company’s New York shares gain 22.4% following a surge in the viewers of its bilingual livestreams, after collapsing in the wake of last year’s regulatory crackdown

· Opinion: Why an External Investigation Will Better Root Out Gang Crime in Tangshan

Designating public security officials from another city to look into the brutal attack on women in the northern Chinese city could prevent local interference

Click here to read more of the latest news.

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