Jul 27, 2022 03:03 PM

Shanghai Composite Index Fell 0.05% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.05% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.07%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.02% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) ended nearly flat.

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

· China Names New Disease Control Chief

Shen Hongbing, an epidemiologist and oncologist, succeeds high-profile China CDC leader Gao Fu, who is retiring

· Former Everbright Bank Executive Under Anti-Graft Probe

Chen Shuang is being investigated for ‘serious disciplinary violations,’ according to Communist Party’s graft busters

· Analysis: How Azvudine Became China’s First Approved Homegrown Covid Pill

Little-known Genuine Biotech’s AIDS drug turns out to help Covid patients and may turn into a multibillion-dollar product

· China and Indonesia Leaders Vow to Deepen Relations

In Beijing visit by Indonesia’s Joko Widodo, President Xi Jinping sets goal of ‘steady and long-term progress’ for bilateral cooperation

· Caixin Explains: Four Chinese Laws That Can Help People Protect Their Personal Information

As China dials up pressure on companies accused of data breaches, citizens are increasingly able to look to the law to assert their privacy and personal information rights

· Tech Insider: Tougher Ride-Hail Data Rules, Former Unigroup Chairman Investigated

Alibaba applies to upgrade its listing in Hong Kong, MediaTek signs contract manufacturing deal with Intel

· Central Bank to Beef Up Digital Yuan Rules to Address Privacy Issues

Users’ personal information will only be used when investigating illegal transactions

· Finance Veteran Zhao Peng Set to Become President of China Life’s Listed Unit

Zhao will also be named secretary of the company’s Communist Party committee, sources say

· China’s Electric-Car Exports Surge to Western Europe and Southeast Asia

NEV shipments more than double in the first half led by industry giant SAIC and joined by Great Wall, Geely, BYD, Nio and Xpeng

· Former Unigroup Chief Falls Under Investigation

Zhao Weiguo probed over suspicious dealings as debt-laden semiconductor giant emerges from bankruptcy under new ownership

Click here to read more of the latest news.

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