Sep 21, 2022 03:03 PM

Shanghai Composite Index Fell 0.17% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.17% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.67%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.5% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.5%.

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

· Cosco Shipping to Order 15 More Containerships

Vessels will cost $2.9 billion and be built by an affiliated shipyard as the state-owned giant expands its fleet amid heavy supply chain demand

· Exclusive: Graft Busters Snare Another Former China Construction Bank Official

Zhang Long, ex-chief of investment and wealth management, joins a lengthening list of managers brought down in anti-corruption probe

· In Depth: How China’s Insurance Industry Is Slowly Opening to the Sick

Increasing numbers of Chinese insurers are launching health insurance policies targeting people with chronic illnesses, which make up as much as one-fifth of China’s population

· PBOC to Expand Digital Yuan Trial to Four Whole Provinces

The program has so far mostly covered cities, including Shenzhen, Suzhou and Chengdu

· China’s Largest Developer Issues State-Backed Bond After Rating Cut

S&P Lowers Country Garden’s rating to BB due to the builder’s ‘narrowing liquidity buffer’

· European Demand for Chinese Solar Panels Soars as Russia Withholds Natural Gas

China shipped 51.5 gigawatts worth of photovoltaic modules to the continent in the first seven months, 26% more than for the whole of 2021

· Officials Probed After Fatal Crash of Bus Traveling to Covid Quarantine Facility

Three local cadres have been suspended, including a district party secretary and a local police official

· Exclusive: Graft Busters Target Booming Shipping Finance Sector

Arrest of Citic Financial Leasing chief Guo Fangmeng adds to growing list of detained executives as authorities cast a wide net over $77 billion industry

· Fosun Cuts Insurance Stake Amid Mounting Debt Concerns

Private conglomerate unloads $57 million of HK-traded shares of New China Life after Beijing city government warns of risks

· Distressed Chinese Developers Scramble for a Piece of $28.5 Billion Industry Bailout

Loans aim to restart construction of projects that stalled amid a sector-wide crisis of liquidity and confidence

Click here to read more of the latest news.

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