Caixin
Nov 23, 2022 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.26% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.26% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.27%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.08% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.14%.

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

· China Proposes Tougher Restrictions on Unfair Digital Competition

Platforms like Alibaba, Tencent and JD.com would face steep penalties under revised law barring ‘picking sides,’ price manipulation and ‘walled gardens’

· China’s STAR Market Hosts $102 Billion of IPOs in First Three Years

Nasdaq-like Shanghai board’s fundraising for 486 companies accounts for more than 40% of China’s initial share sales since June 2019

· Airlines Complete Only 70% of Planned International China Flights

Easing of Covid restrictions fails to boost travel demand over the past three weeks, though carriers vow to ramp up capacity

· Sunshine Insurance Wins HKEX Approval for $1 Billion IPO

Share sale would be the first by an insurance company in the past five years as the industry faces challenges from the pandemic and restructuring

· China’s Personal Pension Scheme Nears Launch as Insurers’ Rules Finalized

After regulations were issued for banks and wealth management companies last week, insurance companies got theirs on Monday

· Tech Insider: Baidu Up, GoTo Down, JD Spreads the Wealth Around

CATL rival aims for $2 billion Shanghai IPO, Faraday says it is stemming losses

· In Depth: China’s Struggle for Data Security

Organizations from hospitals to police departments are accumulating vast amounts of personal information, but these huge stores are often poorly guarded, making them honey pots for hackers

· China’s Top Nickel Trader Mines for $600 Million in Hong Kong IPO

Lygend Resources & Technology plans to use the new capital to expand its Indonesia-based operations

· Dozens Die in Central China Factory Fire

A preliminary investigation found the blaze was caused by illegal welding on site

· China Fleshes Out ‘Optimized’ Covid-19 Response

The measures, contained in four separate documents, follow Beijing’s 20-point guideline announced on Nov. 11, signaling the country’s move toward a more targeted approach to curbing outbreaks

Click here to read more of the latest news.

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