Caixin
Jun 22, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.8% on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.8% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.38%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.31% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.35%.

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

· Hainan Won’t Turn Into the Cayman Islands, Governor Says

As tropical island province carries out free trade port project, Governor Feng Fei warns companies and individuals not to expect a tax haven

· Syngenta Takes First Step Toward STAR Market Listing

Sale of shares in agriculture giant by ChemChina could value the restructured business as high as $60 billion

· China Dragoons Banks, Alipay Into Crypto Crackdown

Central bank orders financial institutions not to provide any cryptocurrency-related services and to launch sweeping inspections

· Energy Insider: Top EV Charging Station Maker Eyes $46.5 Million Fundraising; Hubei Shuts All Coal Mines for Maintenance

Xining Special Steel faces a potential ownership change; cement prices weaken as demand ebbs; PetroChina finds giant oil shale field

· China’s Fund Markets Mark New Milestone as Long-Awaited REITs Debut

Investors snap up shares in nine trusts as part of pilot program to raise funds for infrastructure projects

· Used Electronics Seller Aihuishou Jumps 23% in NYSE Debut

Investors have been drawn by the company’s hybrid business model, which combines an online platform with more than 750 offline stores, encouraging greater trust between buyers and sellers

· Tokyo Cancels All Olympic Public Viewing Events, Tim Cook on Future IPhones, a Petition for Jeff Bezos

Chinese nationals urged to leave Afghanistan, Taiwan leader mourns the death of Biden’s dog

· Garbage Patch Reappears on Tibetan Plateau, Vaccine Tally Hits 1 Billion, Family Planning Surveys

Delta variant spreads in Guangdong, plans to strengthen marriage counseling

· Swine Fever Variants Lead to Mass Outbreaks Across China

Experts are divided over whether the variants have grown more transmissible or whether the use of unregulated ‘underground vaccines’ may be causing the virus to mutate

· Market Mystified by Energy-Drink Maker’s Skyrocketing Stock

Eastroc Beverage stock surges nearly six times from its offering price in first three weeks of trade, prompting company to warn investors of overvaluation

Click here to read more of the latest news.

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