Caixin
Aug 05, 2022 03:03 PM
FINANCE

Shanghai Composite Index Rose 1.19% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) gained 1.19% on Friday, while the Shenzhen Component Index (399001.SZ) rose 1.69%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 4.18% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.62%.

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

· Developer of First China-Made Covid Pill Files for Hong Kong IPO

Closely held Genuine Biotech aims to generate funds to make and commercialize Azvudine and to develop other drugs

· Small Commodity Export Center Yiwu Partly Locks Down Amid Flare-Up

Eastern China city of 1.9 million turns up 70 Covid cases in three days, forcing virus control measures and mass testing

· New Times Trust Ex-Execs Banned for Life From Banking

Regulators impose fines on unit of disgraced tycoon Xiao Jianhua’s Tomorrow Group and on eight former officials for violations

· Li Ka-Shing Distances Himself From AMTD After Meteoric Stock Surge Baffles Investors

Rally that hit 32,000% saw it become one of the world’s biggest financial companies by market cap

· In Depth: China’s Plan to Break Foreign Iron Ore Dependence — Mine More at Home

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

· Pony.ai’s Self-Driving Cabs Hit the Streets in Beijing

The service was made available to general passengers in one corner of suburban Beijing on Wednesday

· Everything You Need to Know About Beijing’s Countermeasures Against Taiwan After Pelosi Visit

The U.S. lawmaker’s trip has triggered a furious backlash from officials on the Chinese mainland

· Starbucks’ Revenue in China Plunges Amid Covid Curbs

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

· Kindergarten Killings Suspect Captured After Manhunt

The private preschool facility inside a shopping mall was closed as investigations into the circumstances of the attack continue

· China’s State Grid Plans $44 Billion of Investment in Second Half to Give Economy a Jolt

The world’s largest utility’s investment will raise the total funding for projects under construction to a record 1.3 trillion this year

Click here to read more of the latest news.

This article was generated by Caixin Automation.

Download our app to receive breaking news alerts and read the news on the go.

Follow the Chinese markets in real time with Caixin Global’s new stock database.

Share this article
Open WeChat and scan the QR code
NEWSLETTERS
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
PODCAST
Caixin China Biz Roundup: Hong Kong ‘Homecoming’ Listings
00:00
00:00/00:00