Shanghai Composite Index Fell 0.62% on Friday
China’s benchmark Shanghai Composite Index (000001.SH) lost 0.62% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.81%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.18% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.16%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: Billionaire Founder of China Renaissance Goes Missing
China Renaissance reports being unable to make contact with its billionaire founder and chairman months after authorities took President Cong Lin into custody
· Trending in China: Outrage as Cyberbullying Drives a Pink-Haired Woman to Suicide
Zheng Linghua, 24, became a target after posting photos with her hospitalized grandfather celebrating admission to grad school
· Exclusive: Tencent’s Top Risk Control Executive to Depart Amid Fintech Revamp
Yang Jun, who built a risk control system for the e-commerce giant’s financial operations since 2020, may return to the traditional finance sector
· United Airlines Delays Adding China-U.S. Services Under Pandemic Era Cap
Limits on numbers of flights remain in place as the two governments fail to negotiate a resumption of services
· Top Graft Buster Pledges to Ramp Up Financial Sector Corruption Fight
Central Commission for Discipline Inspection vows in an article to ‘maintain a strict tone, strict measures and a strict atmosphere’
· In Depth: China Grapples With Fiscal Overhaul as Budgets Come Under Pressure
Poor management, inefficiency, and a narrow tax base are some of the issues Finance Minister Liu Kun has pledged to address
· First of Its Kind Survey Shows How Many Buildings China Has
Misunderstandings about the 600 million buildings counted by the survey have stoked concerns about an oversupply of housing in the country
· NEVs Drive Surge of Auto-Related Patents in China
Some 362,000 related patents were published in the world’s largest car market amid intense competition in new-energy and internet-connected vehicle tech
· China’s Climate Envoy Receives Nobel Sustainability Award
Xie Zhenhua gets recognized for his efforts in tackling climate change and building global cooperation in the field
· China’s Top Diplomat Hails Russia Ties as ‘Resilient, Stable’ in Meeting With Putin
Beijing appreciates Moscow’s willingness to resolve Ukraine conflict through dialogue, Wang Yi says
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