Jun 17, 2021 03:03 PM

Shanghai Composite Index Rose 0.21% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.21% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 1.23%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 4.77% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.01%.

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

· China Launches First Manned Mission to New Space Station

The Shenzhou-12 spacecraft takes off Thursday morning, carrying three astronauts into orbit to crew the Tiangong station

· Chinese Brands Top Euro 2020 Sponsorship

Hisense, Alipay, Vivo and TikTok aim to raise their visibility in Europe by backing the pandemic-delayed European soccer tournament

· Energy Insider: Henan Halts 20 Million Tons of Mining Capacity for Safety Fixes; Guangdong Power Retailers Suffer Huge Losses

Shenzhen to set up carbon emissions fund; Baoneng’s NEV unit gets a $1.9 billion investment; Sinochem-ChemChina combination proceeds

· China Sets Up Department to Supervise Tutoring Industry

Education Ministry unit will supervise training content, tutor qualifications and fees for a sector that’s been implicated in illegal activities

· Liaoning Banking Regulator Kicked Out of Communist Party

Liu Wenyi of CBIRC’s provincial branch accepted an ‘extremely large’ amount of bribes and should face serious consequences, graft busters say

· Air China Johannesburg Flight Suspended Over Covid Delta Cases

June 10 flight to Shenzhen carried 32 passengers who tested positive for wildly transmissible coronavirus variant first detected in India

· Exclusive: Embattled Huarong to Sell Multibillion-Dollar Assets as Rescue Plan Gets Underway

China’s biggest bad-debt manager is offloading non-core assets as it struggles to repay its own mountain of loans

· Exclusive: Banks Prepare to Lower Deposit Rates as Rate Cap Reform Takes Effect

Change to how lenders calculate the ceiling on deposit rates comes as Beijing hopes to reduce their funding costs

· Maker of Dr. Martens Boots Sues Chinese Fast Fashion Upstart Shein

British footwear giant AirWair accuses the export-only clothing platform of ripping off its designs for the workers’-boot-turned-luxury-footwear

· Chinese Lithium Producer to Invest in Mali Mine

A unit of Ganfeng Lithium plans to spend $130 million to acquire 50% of an entity created to hold the rights to exploit spodumene at the project

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