Caixin
May 25, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 2.4% on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 2.4% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 2.34%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.95% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.79%.

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

· Energy Insider: Huayou Cobalt Invests in $2 Billion Indonesian Nickel Plant; Tianqi Lithium’s Stalled Project in Australia Resumes

China’s national carbon market moves closer to reality; Jinko Power to sell solar stations for $72.7 million; Huayou Cobalt in $2.08 billion Indonesia venture.

· Huawei Vows It Won’t Make Cars or Invest in Automakers

Chinese tech giant’s dismissal of speculation drives down shares of BAIC BluePark New Energy Technology, Chongqing Sokon Industry and Chongqing Changan Automobile

· Race Organizer Put a Team of Temps in Charge of Deadly Race

Gansu Shengjing Sport and Culture Development had no formal employees even after operating the 100-km event four times

· Opinion: Should Extreme Cross-Country Racing Be Suspended?

Deaths of 21 runners in freezing weather expose flaws in China’s deregulated and burgeoning sporting events industry, suggesting the need for an overhaul

· Chinese Recruiter Kanzhun Hopes Nasdaq Investors Will Overlook Swelling Losses

Operator of popular Boss Zhipin platform says it has a shot at profitability if it can reign in big marketing expenses

· China Mourns Yuan Longping Who Lifted Country to Top Rice Producer

91-year-old inventor of hybrid and super-hybrid rice variants helped save countless millions from hunger during five-decade research career cut short by recent fall in rice paddy

· China Allows More Wind, Solar Power This Year Even as Subsidies Fade

Policymakers set no upper limits on how much capacity can be added to grid this year, while shrugging off inflation fears in photovoltaic product inputs

· Four Things to Know About China’s Cross-Border Yuan Clearing System

Beijing has ramped up efforts to promote the CIPS as a way to boost the usage of yuan outside the country

· The 10 Hottest International Stories China Is Reading — May 24

Washington and Seoul signal they are open to engaging with Pyongyang; Israel and Hamas announce ceasefire; and Australia hit by worst rodent infestation in 40 years

· The 10 Domestic Stories Chinese Readers Can’t Stop Following — May 24

China mourns the death of beloved plant scientist; suspect in deadly hit-and-run in Dalian ‘sought revenge’; and Shenzhen government is monitoring a swaying skyscraper

Click here to read more of the latest news.

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