Jun 24, 2021 03:03 PM

Shanghai Composite Index Ended Nearly Flat on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.4%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.92% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.2%.

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

· Energy Insider: Guangdong Kicks Off Renewable Energy Trading; China to Release Strategic Metals From Reserves

Authorities release details on carbon trading; State Council outlines plan to develop western region; Guizhou Gas Group signs pipeline gas accord

· Caixin Summit: Klaus Schwab Advocates New Business Approach

Founder of World Economic Forum argues that companies need a broader metric than short-term profits and need to provide for all stakeholders including society

· Tianjin Seeks to Revive Confidence After Bond Defaults

Top port city officials pledge no new SOE defaults in meeting with executives of more than 100 financial institutions

· In Depth: China’s Bond Market Gets a Reprieve in WMP Overhaul

Regulators gave providers of wealth management products an extra year to restructure their money market-like offerings, easing pressure to dump bonds

· Suning Seeks to Buy Stake From State-Backed Fund Despite Drowning in Debt

Surprise bid for shares in Yunwang Wandian owned by Shenzhen Capital seen as asset grab to boost logistics and cloud services for its retail operations

· China Launches Probe Into Commodities Amid Surging Prices

Top economic planner and market regulator seek to check prices and fight speculation

· Top ‘Gaokao’ Scorers Banned From Brand Spokesperson Jobs, the Cost of Phone Scams, After-School Service Hours

The 10 most-read domestic stories on Chinese social media also include the reappearance of a vast pile of trash on the Tibetan Plateau and the prevalence of human trafficking gangs in China

· Chinese Swimmer’s Ban Over Doping Violations Reduced, U.S. Unlikely to Meet July 4 Vaccination Target, Indian Pilgrims Undeterred by Covid

Former South Korean president’s house auctioned, Taiwan leader mourns death of Biden’s dog

· Debt-Ridden State-Owned Aluminum Company Finds Strategic Investor

Administrator of Qinghai Provincial Investment signs agreement with state-backed peer Huanghe Hydropower

· Star Chinese Swimmer Sun Yang Banned From Competing for Four Years

Olympic champion will miss the Tokyo games after court confirms he broke doping rules

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