MSCI adds Beijing Kingsoft to indexes

Global investment benchmark provider MSCI will add office software developer Beijing Kingsoft into MSCI China A Onshore Indexes and MSCI China All Shares Indexes, effective Feb 28, the US-based company said on Wednesday. This marked the second time for MSCI indexes to include firms listed on Shanghai's new sci-tech innovation board, or the STAR Market. By the end of the month, the flagship MSCI Global Standard Indexes will also add six Chinese companies, listed both at home and abroad. The three largest additions by full company market cap will be People's Insurance, Wingtech Technology and Luckin Coffee.

Aid for poor students affected by COVID-19

The Ministry of Education and Ministry of Finance have asked local governments and schools to provide financial aid to students from poor families affected by the novel coronavirus outbreak. According to a joint statement issued by the ministries, relevant offices must keep abreast of the health and living conditions of impoverished students and pay special attention to those from hard-hit regions, poverty-stricken areas, rural and remote areas. For poor students whose families are infected with the virus, financial aid including temporary subsidies, reduction or exemption of tuition fees should be adopted to ensure their study and life in school, said the statement.

Foreign enterprises resume production

More than half of the foreign companies in Shanghai have resumed production as the Chinese government ramped up efforts to fight the novel coronavirus and help enterprises resume normal operations, an industry association said. The Shanghai Association of Foreign Investment said, based on a survey of over 54 foreign enterprises in Shanghai, that over 30 percent of the surveyed enterprises partially resumed production while more than 10 percent had not reopened yet. According to the survey, telecommuting has been widely implemented by foreign businesses to resume operations while reducing close person-to-person contact.