Shanghai Composite Index Rose 0.6% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.6% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 1.55%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.07% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.24%.

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

· Grab’s U.S. Listing Plan Casts Spotlight on Southeast Asian Ecosystem

Grab started out as MyTeksi to address the safety concerns of taxi commuters in Kuala Lumpur

· Aluminum Jumps to Highest Since 2018 on Strong China Trade Data

The industrial metal’s three-month delivery contract on the London Metal Exchange was up 1.4% Wednesday

· CX Daily: Can China Overtake U.S. to Become World’s Top Consumer?

China's regulator asks internet giants to conduct self-inspections within one month. Huawei plans to bet big on car tech

· Jia Yueting, Other Leshi Former Executives Banned from Securities Market for Life

Jia, four other Leshi executives, barred for financial fraud committed over 10-year period, including 2010 IPO; ban comes on top of 240 million yuan fines imposed on Jia, Leshi

· Douyin Takes Action to Prevent Youth Addiction to App

Video streamer bans malicious accounts targeting minors, takes down illegal videos, adds ‘youth mode’ to restrict content and time spent watching

· Singapore’s Grab to List in U.S. in Record $40 Billion SPAC Deal

Biggest-ever U.S. equity offering by Southeast Asian firm raises $4 billion from investors including BlackRock Inc., Fidelity International, and T. Rowe Price Group Inc.

· Photo Essay: The Bitter Taste of Yunnan Coffee

In China’s dominant coffee-growing region, bleak market conditions force growers to cut cultivation even as China’s coffee culture booms; To survive, some growers are moving up-market

· Tesla Says Any Data It Collects in China Is Stored in the Nation

· China Exports, Imports Rebound as Pandemic Impact Wanes

Despite robust recovery, customs administration urges caution over outlook, citing ‘unstable’ and ‘uncertain’ factors

· Beijing to Big Tech: Stop Breaking the Law Within One Month or Else

China’s market regulator, cyberspace and tax agencies hauled in 34 tech firms for a dressing down Tuesday

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