Caixin
Jun 22, 2022 03:03 PM
FINANCE

Shanghai Composite Index Fell 1.2% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 1.2% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.43%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.78% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.58%.

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

· Apple Job Listing Indicates CarPlay Push in China

Maker of iPhone seeks automotive software engineers in Beijing, Shanghai and Shenzhen to help with system certification

· Evergrande Says Debt Restructuring Plan Is on Schedule for End of July

Debt-ridden property giant, with more than $300 billion of liabilities, issues update in a filing to allay creditors’ concerns

· Xiangtan Construction Investment Barred From Bond Borrowings for Two Years

Hunan infrastructure investment company violated regulations in structured bond deals, where the issuer buys its own debt instruments, increasing default risk

· Tech Insider: JD.com Shrinks Group-Buying Biz Again, TikTok Shifts U.S. Data

Tencent reduces holdings in New Oriental subsidiary, NetEase shares plunge after Diablo Immortal release delayed

· U.N. Biodiversity Conference Moved From China to Canada

December session was originally intended to be held in the southwestern city of Kunming

· Property Agency 5I5J Cuts Regional Business Amid Sales Drought

As the brokerage exits Hefei, it has met strong resistance from local partners, who claim it is withholding pay

· Lone Covid Case Sends Northeast China City Back Into Lockdown

The city of Jilin has barred all 3.6 million of its residents from leaving their communities unless absolutely necessary

· China Resumes More International Flights as Crippling Covid Curbs Ease

Regulators are allowing additional flights from Vietnam and Thailand, alongside financial handouts, in an offering to the distressed airline industry

· Police Officers Probed Over Handling of Tangshan Women's Assault

Authorities say the victims are recovering, while some of the officers involved in cases linked to the assault made ‘serious violations’ of Communist Party discipline and law

· Beijing’s Covid-19 Flare-Up Produces No Severe Cases

Health authorities report that 97.1% of the 377 confirmed Covid infections had mild symptoms or none in this month’s outbreak

Click here to read more of the latest news.

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