Shanghai Composite Index Fell 0.48% on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.48% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.24%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.17% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.84%.

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

· Singapore Dealer Prepares Vault for 15,000 Tons of Silver

Demand for coins and bars is booming, fueled in part by a Reddit-induced buying frenzy in February that drove prices to an eight-year high and rekindled investor in the precious metal

· ‘Tickets Please!’ Baidu Allowed to Charge for Robobus Service in Chongqing

· China Huarong’s Worsening Bond Rout Stokes Market Contagion

The yield on one of the distressed bad-asset manager’s bonds due in May 2022 rose 9 percentage points to 23%, with the selloff spreading to other Chinese dollar bonds

· China Expresses ‘Grave Concern’ Over Japan’s Release of Fukushima Wastewater Into Ocean

Foreign ministry said the Japanese government’s ‘unilateral’ decision is ‘irresponsible’ and could ‘seriously endanger’ neighboring countries’ public health and security

· CX Daily: Ant Group to Remake Itself to Fall in Line With Regulators

Alibaba shares surge after a record fine to the e-commerce giant. Chinese CDC director sticks up for homegrown Covid-19 vaccines

· Huawei to Invest $1 Billion on Car Tech It Says Surpasses Tesla

Huawei to furnish autonomous driving technology as telecom teams with Chinese automakers to target booming electric-car market

· China Approves $5 Billion Quota for Hainan’s QDLP Pilot Program

QDLP pilot aims to improve domestic access to foreign assets as part of push to liberalize Hunan financial services, including free trade account to cross-border transactions, while QFLP would help foreign investors tap Chinese assets

· Leshi, Jia Yueting Each Fined $37 Million for Financial Fraud

Chinese securities regulator says former high-flying video streaming site and its founder committed financial fraud over 10-year period

· China CDC Director Sticks Up for Homegrown Vaccines, Downplaying Criticism

In follow-up press reports, the disease control body downplayed comments critical of Chinese shots while standing by remarks that China is considering a new strategy that includes mixing different types of vaccines

· Opinion: Huarong Can’t Be Treated Like a Normal Company in Bankruptcy Restructuring

Embattled bad-asset manager might not look like at first glance, but it has a lot of the characteristics of a systemically important financial institution

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