Shanghai Composite Index Rose 1.19% on Friday
Below is a rundown of the top China business and finance stories, plus other news for the day:
Closely held Genuine Biotech aims to generate funds to make and commercialize Azvudine and to develop other drugs
Eastern China city of 1.9 million turns up 70 Covid cases in three days, forcing virus control measures and mass testing
Regulators impose fines on unit of disgraced tycoon Xiao Jianhua’s Tomorrow Group and on eight former officials for violations
Rally that hit 32,000% saw it become one of the world’s biggest financial companies by market cap
The state-backed initiative aims to ramp up domestic sources so the country’s steelmakers no longer rely on foreign countries to supply over 75% of its needs for the raw material
The service was made available to general passengers in one corner of suburban Beijing on Wednesday
The U.S. lawmaker’s trip has triggered a furious backlash from officials on the Chinese mainland
In the fiscal third quarter, the Seattle-based coffee giant took in $545 million in its second-largest market, where nearly 16% of its stores are located
The private preschool facility inside a shopping mall was closed as investigations into the circumstances of the attack continue
The world’s largest utility’s investment will raise the total funding for projects under construction to a record 1.3 trillion this year
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