Caixin
Sep 23, 2022 03:03 PM
FINANCE

Shanghai Composite Index Fell 0.66% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.66% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.97%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.53% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.67%.

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

· Few Chinese Developers Qualify for New Bond Guarantee Program, Industry Sources Say

While the pilot could provide a short-term lifeline for some, it’s uncertain how many private property companies have the required collateral

· Fifth Official Linked to Former Security Vice Minister Convicted for Graft

Former Jiangsu Vice Governor Wang Like, who accepted more than $64 million in bribes, is one of several cadres connected to former Public Security Vice Minister Sun Lijun sentenced this week

· China Names 18 Institutions as Gatekeepers for Green Bonds

Credit rating and accounting enterprises will promote self-discipline and regulation of the booming $87 billion industry

· Shanghai Bourse Names New Communist Party Head

CSRC’s Qiu Yong, an advocate of market opening-up, succeeds Huang Hongyuan at China’s biggest stock exchange

· China Rolls Out Subsidies for the Needy Amid Rising Inflation

As gains in the cost of living cross regional thresholds, more than 20 cities and provinces start paying out millions of yuan to low-income families

· Shipping Costs for Giant Oil Tankers More Than Double This Month

China and other importers stocking up for winter face surging ship charter rates as Russia’s war in Ukraine dramatically restructures world oil markets

· Chinese Banks Gear Up for Private Pensions Bonanza

Lenders are luring customers to open individual retirement accounts as they dive into a new market that could grow to $390 billion in a decade

· In Depth: Why China’s Regulators Have Cough Medicine in Their Sights 

Abusing over-the-counter medications to get high is easy in China thanks to the prevalence of online pharmacies and delivery apps

· Trending in China: Acting School Head Detained After Rape Accusations Surface Online

The accused instructor says ‘controversial’ teaching methods were behind the allegations

· Former Justice Minister Given Suspended Death Sentence

Fu Zhenghua is the fourth ex-official connected to the political gang of former Public Security Vice Minister Sun Lijun to be sentenced this week

Click here to read more of the latest news.

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