China’s benchmark Shanghai Composite Index (000001.SH) gained 1.6% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 2.05%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.47% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.37%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Declares End to Military Drills Around Taiwan
Exercises in response to Pelosi visit last week included missile launches and simulated sea and air attacks
· Beijing and Seoul Have ‘Properly Handled’ Dispute Over U.S. Missile Defense System
Chinese spokesperson says the THAAD issue has been dealt with based on ‘mutual understanding’
· China’s Duty-Free Giant Readies Jumbo Hong Kong IPO
State-backed China Tourism Group Duty Free Corp. has returned after pulling an initial attempt late last year
· Opinion: The Two Weaknesses of China’s Economy
It will be difficult for the country to hit its annual growth target with consumer spending still sluggish and the real estate market in the doldrums
· Hong Kong to Shorten Quarantine for Mainland Travelers
From Friday, arrivals from the mainland will need to go through three days of mandatory home isolation instead of seven, though the city still isn’t granting individual tourist visas to them
· Force Remains ‘Last Resort’ for Reunifying Taiwan, Beijing White Paper Says
China’s State Council offices write that the island will have a high degree of autonomy as a special administrative region after reunification
· Five Things to Know About China’s Scandal-Struck Chip Industry ‘Big Fund’
How the multibillion-dollar industrial incubator supported the government’s plan to make China a self-sufficient semiconductor powerhouse
· ‘Big Fund’ Graft Probe Ensnares Three More Individuals
Corruption investigation of China’s multibillion-dollar fund backing the semiconductor industry seems to pick up steam
· Lockdowns Spread Across China’s Tropical Hainan Province
At least 11 cities and counties have rolled out strict rules to curb the island’s Covid outbreak
· Luckin Dips Back Into the Red as It Doubles Down on Expansion
Coffee chain reports loss of $17 million for the second quarter, when it opened 615 new stores
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