Jun 23, 2021 03:03 PM

Shanghai Composite Index Rose 0.25% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.25% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 1.0%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.72% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.13%.

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

· China to Limit Daily Carbon Price Moves to 10%

Shanghai Environment and Energy Exchange outlines rules for national carbon market debuting this month as a key mechanism for reducing greenhouse gas emissions

· Energy Insider: Iron Ore Futures Tumble After Regulatory Probe

Ganfeng Lithium raises $631 million in Hong Kong; Syngenta moves toward a STAR Market share sale; world’s first 1 million kilowatt hydro generator goes into operation

· Corruption Parade at China Development Bank Gets Longer

Zhang Linwu faces ‘huge’ bribery charges and gets kicked out of Communist Party after his second ex-wife blows the whistle

· ICBC Gets New Supervisory Board Chairman From PICC

Huang Liangbo fills position left by Yang Guozhong after serving in similar position at People’s Insurance Co. in long financial-system career

· Exploring Paths to Carbon Neutrality, China Expands Emissions Trading Trials

The pilot programs aim to further promote green energy and ensure that products and supply chains are ready to comply with potential future emissions limits

· China’s First Crude Oil Options Go Live in Boost to Derivatives Market

Although overseas investors have been able to trade crude oil futures since 2018, they’ve been locked out of the options market until now

· High Hopes for Paid Paternity Leave, Alipay Bans Cryptocurrency Transactions, Pregnancy Plan Survey

One billion vaccine doses administered on Chinese mainland, huge garbage patch reappears on Tibetan Plateau

· China and Russia’s Envoys to U.S. Meet to Discuss Biden-Putin Summit

Cui Tiankai met with his Russian counterpart after Anatoly Antonov returned to Washington, Russian state-run news reported

· Trending in China: Wave of Disbelief Greets Proposal of Award for Academic’s Work Debunking Einstein

Hebei professor tries to lower expectations about his research as news of its nomination attracts 180 million views

· Debt-Ridden Evergrande Plans to Sell Stake in Property Unit for Estimated $400 Million

A subsidiary of the Chinese real estate giant will offload the 29.9% holding to a private equity firm

Click here to read more of the latest news.

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