Caixin
Jan 20, 2023 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.76% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.76% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.57%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.54% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.56%.

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

· Weekly Must-Read: Where to Now for Alibaba in the Post-Jack Ma Era?

With Ma pulling further back from the reins of his e-commerce empire after ceding control of Ant Group, all eyes are watching to see if relations with the government can be patched up

· China’s Homegrown Antiviral Covid Pill Included in National Subsidy Program

Genuine Biotech’s Azvudine treatment wins approval substantially undercutting Pfizer’s price for Paxlovid

· Two Top Chinese Soccer Officials Under Corruption Probe

Chinese Football Association’s executive deputy secretary-general and a former secretary-general are caught up in a widening graft investigation

· In Depth: The Questions Hanging Over Ant Group

Market watchers wonder when the fintech giant will be able to revive its IPO plans and what it will have to give up to get a financial holding company license — one of the last items on its restructuring to-do list

· Chinese Pork Producer Faces Delisting Amid Insolvency Risk

Shenzhen-listed Jiangxi Zhengbang Technology could be booted from the bourse if it reports having more liabilities than assets for a second straight year

· Court Ruling Adds to Pressure on China’s Indebted Local Government Financing Vehicles

An LGFV in Yunnan province faces court action for defying an order to repay $48.8 million in debt

· Another Central Bank Official Snared in Graft Probe

The investigation into Li Guo may be related to a broader inquiry into corruption in nonbank payment licenses, sources say

· Harvard-Trained Former PBOC Deputy Governor Appointed Beijing Mayor

Yin Yong replaces Chen Jining, who was named Shanghai’s Communist Party secretary

· Chinese State Energy Giant Powers Up Clean Energy Capacity in 2022

SPIC says its total installed capacity grew to 212 million kilowatts last year, nearly 66% of which came from non-fossil fuel sources

· Casino Junket Tycoon Sentenced to 18 Years in Macao for Running Illegal Gambling Ring

Alvin Chau Cheok Wa was found guilty on 162 charges, most of which were linked to illegal gambling activities

Click here to read more of the latest news.

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