Caixin
Jun 24, 2022 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.89% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.89% on Friday, while the Shenzhen Component Index (399001.SZ) rose 1.37%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.81% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.33%.

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

· Weekly Must-Read: Why Relocating Mainlanders See Singapore as a Safe Haven for Their Businesses and Property

Chinese entrepreneurs, professionals and their families are moving to the Southeast Asian country in droves

· Trust Industry Profits Fall 31% Amid Market Volatility

Managing $2.98 trillion, Chinese trust companies’ investment returns fall 24% in first quarter, though capital strength and asset structure improve

· Retail Investors’ Share of Chinese Stock Markets Falls Below 70%

Institutions play an expanding role in trading, and individuals grow more sophisticated, a top market regulator says

· Spain’s La Liga Terminates Broadcasting Deal With Chinese Partner

Wuhan DDMC’s Super Sports missed $47 million payment, prompting top soccer league to scuttle six-season deal inked in 2019

· Two Killed in Nio Test Car That Fell From Third Floor

Trial model of popular ET7 broke through a wall in a parking building, though Nio says accident was ‘not caused by issues with the vehicle’

· China Expands REIT Market to Spur Infrastructure Growth

As the economy slows, regulators have turned to the hot investment product as a source of funding

· After Junk Downgrade, China’s Largest Developer Announces $441 Million Bond Buyback

Country Garden repurchases 60% of the outstanding principal on an offshore bond due in July

· In Depth: China’s Relaxation of Penalties for Wildlife Breeding Raises Concerns

A new judicial interpretation revises how punishments for artificial breeding of wild animals are decided. But activists say a potential escalation of trafficking is a cause for worry

· State Firms Urged to Recruit More College Graduates Amid Bleak Job Market

China’s top state-asset supervisor told SOEs to start summer recruitment campaigns as soon as possible, as graduate employment has been sluggish for a third year in a row

· Greek Shipping Insider Lays Out How Industry Can Recover From Post-Pandemic Malaise

The business faces multiple challenges, including environmental regulations, supply chain disruptions and geopolitical tensions, says Posidonia Shipping Exhibition managing director

Click here to read more of the latest news.

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