Mar 26, 2021 03:03 PM

Shanghai Composite Index Rose 1.63% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) gained 1.63% on Friday, while the Shenzhen Component Index (399001.SZ) rose 2.6%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 3.03% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 3.37%.

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

· Biden Says China Won’t Be Most Powerful Country on His Watch

American president promises to outspend its rival on innovation and infrastructure to prevent it from overtaking the U.S.

· Czechs Delay $7 Billion Nuclear Reactor Tender, Leave China Out

NATO member state says it won’t invite Chinese companies to participate in a security assessment of potential bidders

· Alibaba Still Reigns Supreme Over China’s Cloud Services, Research Firm Says

· Social Media Chiefs Grilled in U.S. Congress Over Anti-Asian Content

· TV Maker Vizio Falls in Debut After Downsized IPO

· CX Daily: China’s Power System Needs More Flexibility to Hit Carbon Goals

China lists Covid-19 as the second highest deadly infectious disease after AIDS. ByteDance hires a Xiaomi executive as its CFO

· Beijing Cracks Down on Speculation on ‘School District Houses’

Authorities seek to curb promotion of houses based on their proximity to desirable schools, which has led to soaring housing prices in districts like Haidian in Beijing

· What’s Up with China EVs? Here’s a Clue

After successfully promoting electric vehicles, China now wants to ensure EV infrastructure is in place, and investors are taking notice

· China Mobile Mulls A-Share Listing, Targets $16.8 Billion in 5G Spending in 2021

China Mobile joins China Telecom in considering return to mainland exchanges; company weighs possibility of spinning off a business unit for A-share listing

· Foreign Brands Should Avoid ‘Politicizing Commercial Issues, ’ Commerce Ministry Says

The spokesman’s comment came as Chinese internet users have been advocating boycotts against multiple foreign fashion brands, including H&M and Nike, for their statements on Xinjiang

Click here to read more of the latest news.

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