China's benchmark Shanghai Composite Index (000001.SH) gained 0.05% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.18%.Shanghai's tech-heavy STAR 50 Index (000688.SH) lost 0.22% for the day, while Shenzhen's similar ChiNext Index (399006.SZ) rose 0.24%.Below is a rundown of the top China business and finance stories, plus other news for the day:· Former Head of China Development Bank Branch Kicked Out of Communist PartyFu Xiaodong, who was president of CDB's Henan unit, accused of accepting bribes and turned over to prosecutors, graft busters say· Shenzhen Nucleus Gene Lab Found to Report False Covid Test ResultsLanzhou health authorities vow punishment for uploading negative results for patients who were positive as testing industry comes under scrutiny· China's Property Support Seen as Helping State-Owned, Quality Private DevelopersThe recent slate of measures will encourage the better firms to acquire and help complete unfinished projects, insiders say· Tech Insider: Tesla's Big Recall, Pinduoduo's Earnings Beat VR headset shipments spike, Faraday Future's management shake-up· China Steps Up Timetable for Senior Vaccinations as Covid Cases SurgeThe minimum period between the initial course of vaccines and the first booster shot for the elderly has been shortened to three months from six· Kweichow Moutai to Splash $3.
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