Caixin
Jun 16, 2022 03:03 PM
FINANCE

Shanghai Composite Index Fell 0.61% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.61% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.11%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.53% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.4%.

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

· Viva China Close to Controlling British Shoemaker Clarks

Shareholders of gymnast Li Ning’s apparel company approve plan to take over 197-year-old British shoe brand

· Developers Face Mounting Debt Payments in Coming Months

With $26 billion coming due in June and July, creditors brace for more requests for delayed payments

· HNA Innovation Kicked Off Shanghai Stock Exchange

Former unit of bankrupt HNA Group commences delisting after four years of losses and dwindling revenue

· Funde Sino Life Takes Control of National Trust

Regulators clear transfer of 40.72% stake in the often-sold trust and investment business amid continuing equity restructuring

· Four Things to Know About China’s Plan to Go ‘All-Out’ on Infrastructure

As policymakers dust off the old stimulus playbook to boost growth, some observers wonder if the spending drive will have the desired effect

· Former Head of China’s National Food Stockpile Falls Under Graft Probe

Zhang Wufeng, ex-director of the National Food and Strategic Reserves Administration, is latest economic planner to be investigated for corruption

· Shanghai Landlords Reluctant to Cut Clothing Wholesalers a Break

Merchants are demanding a rent holiday after the city’s Covid lockdown forced them to close during what’s normally their busiest time of year

· China Resumes Processing Family Visit Visas After Two-Plus Year Suspension

Since last week, at least five Chinese embassies around the world updated their rules for travelers heading to China, accepting applications for work and other types of visas

· Ikea to Close Shanghai Neighborhood Store in Apparent Strategy Shift

The Swedish retailer says it will double down on digital infrastructure to meet changing shopping habits

· MMA Organizer Says China Market Is Key to Global Expansion

One Championship Group president believes the formula for success is a mix of local and global content

Click here to read more of the latest news.

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