Caixin
Jun 21, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.12% on Monday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.12% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.4%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.24% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.97%.

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

· Cover Story: The Lagging Overhaul of China’s $3.9 Trillion Bank WMP Sector

Midway through a final year of transition to new rules, banks’ wealth management units are struggling to get it all done, including hiring enough talent

· Australia to Refer China to WTO Over Wine Tariffs

Trade minister says Australia is seeking dispute resolution to vigorously defend the interests of its winemakers

· New Chinese Brands Sparkle in ‘6.18’ E-Commerce Marketing Event

Almost 460 brands that have been on the market for less than three years won sales in their segments on Tmall.com, the platform said

· Cross-Border Leisure-Wear Firm Doublefs Raises $100 Million

Sequoia-backed Chinese e-commerce platform which sells to overseas markets was valued at around $150 million last year

· Weekend Long Read: 985 Issues With Finding a Spouse in China

The number, shorthand for elite universities and their graduates, has become an object of disdain for how it’s used by exclusive dating sites to perpetuate class divisions

· Sichuan to Shutter Crypto Mining in Sweeping Crackdown

Home to China’s second-largest concentration of such operations joins national campaign against energy-hungry industry that poses financial risks

· EV Enthusiasm May Have Overpriced Auto Stocks

Consultant AlixPartners says surge in automakers’ valuations seems out of line with actual vehicle sales

· Energy Insider: New Rules to Regulate Commodity Price Indexes; Power Consumption Jumps in Southern China

Nuclear plant builder records surge in orders; Sinopec to increase cleaner fuel supply in Fujian; the auto and display screen industries vow greater cooperation

· Eight Detained Over Gas Explosion, Post-Vaccine Deaths in Taiwan, Unemployed Man Asks Mayor for Job

China launches crewed spacecraft Shenzhou-12, country’s Covid-19 vaccination reaches more than 900 million doses

· Japanese Firm Poised to Open First Fully Foreign-Owned Money Broking Business in China

Subsidiary of Ueda Yagi Tanshi gets regulator’s approval to start operations in further liberalization of country’s financial markets

Click here to read more of the latest news.

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