Caixin
May 11, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.4% on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.4% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.35%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.29% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) ended nearly flat.

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

· Census Shows China’s Population Grew Above 1.4 Billion Last Decade

Number of people in the country increased 5.38% from 2010 to 2020, NBS chief says

· China’s Digital Yuan Gets Access to Alibaba’s 1 Billion-Person User Base

Alipay customers can use central bank’s experimental digital currency to pay for food delivery, groceries and online purchases

· Update: Police Launch Probe Into How Leopards Got Loose From East China Safari Park

Hangzhou park struggles to explain why it took days to inform the public about the escaped predators

· Fosun, BioNTech in $200 Million China Vaccine Venture

Pair will build Shanghai factory with capacity to make 1 billion doses of German company’s mRNA-based inoculations each year

· China Became Asia-Pacific’s Largest Open-End Fund Market in 2020, Report Says

Total net assets in the country's regulated open-ended investment funds reached $2.7 trillion at the end of last year, up from $1.9 trillion in 2019

· Chinese Online Insurer Waterdrop Suffers 19.2% Share Price Decline in NYSE Debut

IPO by Tencent-backed insurer follows recent crackdown on fintech firms, including Waterdrop, which shut down its online healthcare mutual aid

· Internet Watchdog Cheesed Off at Talent Show Fans That Dumped Dairy Down the Drain

Officials says pop idol-loving youth crossed a line by wasting food

· Alibaba, Tencent-Backed Edtech Firms Fined for False Advertising

China’s market regulator fined Alibaba-backed Zuoyebang and Tencent-backed Yuanfudao $389,000 each

· In Depth: China Starts Sending Covid-19 Aid to India as U.S. Dithers

By offering a helping hand, China is aiming to protect itself from the pandemic, while also trying to mend fences with its neighbor, experts say

· China Finalizes Merger of Two Largest State Chemical Firms, Creating Sinochem Holdings

Subsidiary Syngenta remains the wildcard in the deal as it has signaled plans to IPO in mid-2022 in a move that could relieve debt pressures accumulated during its $43 billion 2016 acquisition

Click here to read more of the latest news.

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