Caixin
Jul 28, 2022 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.21% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.21% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.23%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.19% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.31%.

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

· Ant Makes Fresh Move to Advance Internal Reshuffle

Alibaba-backed fintech giant sets up a new committee under the board to oversee risk management and consumer protection

· Steel Profits Plunge in June Amid Slack Demand and Rising Costs

Chinese industry’s earnings slide 93.8% from a year ago as iron ore and coking coal prices rise and housing demand continues its downward spiral

· Industrial Bank Gets a Boost as Fujian Government Expands Its Stake

Biggest state shareholder plans to buy as much as $148 million of bank’s equity to bolster the stock in support of a digital transition

· Weeks After Hong Kong Offering, Miniso Shares Tank on Short-Seller Attack

Retailer says the allegations that it's lying about its business model are ‘without merit’

· Analysis: Dutch Carmaker Stellantis and State-Owned Guangzhou Auto Go Their Own Ways

The duo is shutting down their money-losing Jeep JV, which recorded a more than 84% drop in first-half sales

· Shanghai Neighborhoods Resubmit to Lockdown as Covid Cases Rebound

Drivers and delivery personal, as well as ‘closed-loop’ quarantine staff, have been spreading Covid-19 across the city, officials say

· Opinion: AI and Open Medical Data Are the Keys to Solving Global Health Inequity

Global health disparities will improve or worsen depending on how much data researchers can access

· 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 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

Click here to read more of the latest news.

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