Shanghai Composite Index Fell 1.3% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 1.3% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.47%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.22% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.25%.

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

· Geely-Backed ECARX and Volvo Mull Joint Venture to Develop Infotainment Systems for Global Automakers

· IMF Mulls Creating $650 Billion in Reserves After Yellen Nod

Additional assets would be earmarked for helping developing economies cope with the pandemic

· Macao Halts BioNTech Shots, Citing Vial Defects

The suspension came as Hong Kong halted vaccinations at at least two centers administering the vaccine

· Shanghai to Start Vaccinating Foreign Residents

Metropolis is the first city in China to announce plans to extend access to noncitizens

· Caixin-Sinica Business Brief: Things Get Heated at U.S.-China Talks in Alaska

In this week’s episode: Beijing and the Biden administration finish their first face-to-face meetings in Anchorage; Pinduoduo chairman Colin Huang steps down; and the latest on Vanguard, one of the world’s largest asset managers, and its joint venture with fintech giant Ant Group

· CX Daily: Investors Dump China’s Vape-Makers as Regulators Look to Apply Tobacco Law

China's app operators are banned to collect user data as much as they want. Baidu sees a lackluster debut in Hong Kong

· Geely’s Shanghai Listing Plan Hits the Brakes on Pending Regulatory Approval

CSRC is reportedly questioning carmaker’s tech credentials for STAR Market

· Beijing Probes Banks, Alleging Illegal Loans for Property Speculation

Capital regulator joins other regions to curb overheated housing sector

· Ex-PBOC Adviser Sees Risk of China Outflows Along With Other Emerging Markets

U.S. pandemic relief package prompts investors to sell emerging-market assets

Click here to read more of the latest news.

This article was generated by Caixin Automation.

Download our app to receive breaking news alerts and read the news on the go.

Follow the Chinese markets in real time with Caixin Global’s new stock database.