Caixin
Sep 19, 2022 03:03 PM
FINANCE

Shanghai Composite Index Fell 0.35% on Monday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.35% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.48%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.3% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.72%.

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

· Cover Story: The Double Squeeze on China’s ‘Sandwich Generation’

Those born under the one-child policy face the demands of rearing their own children while providing care for their aging parents

· Covid Quarantine Bus Crash Kills 27 in Guizhou Province

Wreck injuring 20 others at 2:40 a.m. stirs online outrage focusing on virus control policies and prompts local authorities to apologize

· Shenzhen Sets Up Platform to Help Cash-Strapped Developers Finish Stalled Projects, Sources Say

Shenzhen Anju Jianye Investment Operation won’t inject funds to restart construction, but will instead help facilitate additional loans

· China’s Fiscal Revenue Posts First Growth Since March

August revenue grew 5.6% year-on-year to $186 billion as the impact of a tax refund policy tapered off

· Weekend Long Read: Why China Still Needs the Asian Development Bank

Although the country no longer lacks money, it can still make use of development support, mainly in the form of strengthening its institutional capacity

· U.S. Regulator to Review Chinese Audit Documents Next Week in Hong Kong

Audit watchdog dispatches team for inspections starting with Alibaba and Yum China under preliminary accord to resolve longstanding dispute

· Russia’s Rosneft Raises $2.15 Billion in Record Yuan Bond Sale

Oil giant follows Russian gold and aluminum companies in borrowing using the Chinese currency amid sanctions limiting access to dollar deals

· Chinese Banks Now Have Greater Say in Determining Deposit Rates

For the first time, major commercial lenders have lowered reference savings rates for general customers while the central bank benchmark remains unchanged

· Xi Calls On Security Bloc to Guard Against ‘Color Revolution’

President tells leaders from Russia, India, Pakistan and Central Asian countries to remain firm in safeguarding the international order and ‘reject zero-sum game and bloc politics’

· Tech School Enrollment Shrinks Despite Efforts to Boost Skilled Workforce

Last year 4.9 million students enrolled in secondary vocational schools, 1.5 million fewer than in 2020

Click here to read more of the latest news.

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