Caixin
Apr 27, 2021 03:03 PM
FINANCE

Shanghai Composite Index Ended Nearly Flat on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.28%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.23% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.56%.

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

· Caixin-Sinica Business Brief: Tesla Struggles to Put Brakes on PR Crisis

Plus, top health authority launches an investigation into medical malpractice after a whistleblower alleges widespread misconduct in the treatment of cancer patients; ByteDance says it has no plans to go public anytime soon; and China takes aim at the livestreaming industry

· South Korea Growth Accelerates as Global Recovery Strengthens

Gross domestic product grew 1.6% during January-March from the previous quarter, easily beating the economists’ consensus for a 1.1% expansion

· China Demand Powers Tesla to Record Quarter Amid Chip Shortage

EV-maker’s revenue jumps even as CEO Musk admits supply problems

· Jack Ma’s Ant Group Plans Interest-Free Loans to Lift Staff Morale

The loans will be backed by eligible employees’ restricted stock options, which will be valued at levels calculated after a 2018 funding round

· Huarong Bonds Slump as Fitch Cut Overshadows April Repayments

Fitch is the first of the big three international ratings firms to downgrade the embattled distressed-debt manager after the latter missed a deadline to report its 2020 earnings results

· China’s Swine Fever Lockdown Reshapes $300 Billion Pig Industry

Plans to restrict the transport of live hogs set to create regional price differences

· An American-Egyptian Architect's Photographs of China's Vanishing Trades

In his travels across China, Hisham Youssef trains his street photographer’s eye on some of the vanishing arts and trades that have endured for long but are now under threat of disappearing as China modernises.

· CX Daily: China Gets Serious About Antitrust in Cyberspace

Beijing orders a halt to work on two high-speed rail projects. China creates rules on facial recognition

· China Probes Meituan in Expanded Antitrust Crackdown

Food-delivery giant vows to cooperate as authorities investigate charges of abusive ‘picking-sides’ policies

· Beijing Tries to Cool ‘School District” Housing Market in Haidian Area

Moving into sought-after district will no longer guarantee students a place in top-notch local schools starting next year

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