Caixin
May 19, 2021 03:03 PM
FINANCE

Shanghai Composite Index Fell 0.51% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.51% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.23%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.34% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.8%.

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

· China Mobile Aims to Become First Red-Chip Company on China’s Main Board

Plan to sell A-shares in Shanghai may blaze a trail for HK-traded companies incorporated abroad, but compliance issues mean it may take a while

· Energy Insider: China’s Coal Production on the Rise as NDRC Calls for Market Approaches to Reduce Pollution

EVE Energy to set up joint venture making battery materials; PowerChina scores 40% jump in construction contracts

· China’s Shipbuilding Giants Set to Combine

Global antitrust reviews clear merger of China State Shipbuilding and China Shipbuilding Industry to form China Shipping Group

· Exclusive: Huarong Gets New President Amid Pressure on Bonds

China Great Wall Asset Management’s Liang Qiang named to fill post vacant since December as restructuring report contributes to bond selloff

· China Extends Tariff Exemptions for Some U.S. Imports

In the absence of talks to resolve long-running trade spat, U.S. and China are maintaining the status quo

· In Depth: Huawei Sees Key to a Turnaround in the Cloud

Telecommunications giant is betting on businesses that will tap into two prominent global trends — digital transformation and carbon neutrality

· Tencent Music Posts Strong Growth Under Shadow of Antitrust Clampdown

Leading Chinese online music provider’s revenue jumps 24% in first quarter on growth in subscriptions, advertising services

· East China Official Who Dangled Job Promotions Jailed Eight Years for Bribery

Zhu Yingfu accepted $2.3 million to push career upgrades for more than 60 workers, corruption watchdog says

· Singapore Broker Up 536% In a Year Looks to China for More Gains

Although iFast’s Chinese operations are loss-making, its CEO said the nation is poised to become the wealth-management platform’s fastest-growing market

· NetEase-Sony Deal Is Latest Blow to Tencent’s Grip on Music in China

Regulators have reportedly informed Tencent that it should give up exclusive music rights

Click here to read more of the latest news.

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