Dec 16, 2022 03:03 PM

Shanghai Composite Index Ended Nearly Flat on Friday

China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.56%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.1% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.06%.

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

· Weekly Must-Read: Covid Chaos at China’s Hospitals as Stringent Control Policy Eases

Health care centers from Guangzhou to Shijiazhuang and Beijing are slammed amid surging infections and severe shortages of medical workers

· China’s November Urban Jobless Rate Jumps to 5.7%

Covid outbreaks in major cities drive unemployment to highest levels since May, and end of pandemic controls may further stress job market

· China Considers More Property Market Support, Vice Premier Says

Liu He makes comment in remarks before a China-EU forum, where he also called for thawing the parties’ frozen investment accord

· Volkswagen to Build All-Electric Tavascan Car in China

German auto giant’s Cupra brand plans to export the vehicle made in Anhui province to global markets

· Hong Kong Names Julia Leung Fung-yee CEO of Securities and Futures Commission

Veteran financial regulator will be first the female and the first local Chinese in the SFC’s top job after moving up from deputy chief

· Senior China Provincial Media Official Probed for Corruption

Wu Hao, deputy director of state radio and television in Yunnan, is known for encouraging netizens to shine a light on questionable police and media reports

· China’s Demand for Pfizer’s Paxlovid Skyrockets, but Supplies Are Limited

As Covid cases climb, the State Council has allowed medical institutions to do online prescribing of drugs used to treat Covid-related symptoms

· In Depth: How China Helped Build Indonesia’s High-Speed Rail

The Jakarta-Bandung link, a $7.36 billion Belt and Road project, overcame property disputes, construction hurdles, cost overruns and the pandemic

·’s Logistics Arm Struggles to Deliver Beijing Parcel Backlog Amid Covid Surge

Company joins others including STO Express and Alibaba-backed Cainiao to bulk up courier numbers in the capital

· Singapore Mulls Dumping 20% Stake in CK Hutchison’s Port Business

State-controlled port operator PSA International sees declining outlook for the assets amid shrinking global trade and stiffening competition

Click here to read more of the latest news.

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