Jun 29, 2021 03:03 PM

Shanghai Composite Index Fell 0.92% on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.92% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.99%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.06% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.19%.

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

· PBOC Official Tapped to Be Next IMF Deputy Managing Director

Li Bo’s appointment will fill the vacancy that will be left by another former deputy governor of the Chinese central bank

· Energy Insider: China Expects to Raise Residential Electricity Prices; Carbon Market to Expand to Eight Industries; Tesla Recalls Cars

Chengdu opens a second airport; wind power station in Gansu starts spinning electricity; coal prices are set to drop in July

· BeiGene Cleared for $31 Billion STAR Market IPO

Eleven-year-old cancer-focused Chinese biotech turned its first profit this year after three of its drugs made China’s National Reimbursement Drug List

· CapitaLand Sells Controlling Stakes in Six Raffles City Projects to Ping An

Singapore real estate group accepts less than $5.1 billion for portfolio valued at $7.24 billion as part of its strategy of unloading mature properties

· China, EU Set to Agree on Green Finance Definitions by Year-End, Official Says

China’s recent move to update its green bond classification scheme helps align country with stricter global standards

· Ex-Chair of State-Run Interbank Clearing Platform Expelled From Communist Party for Graft

Xu Zhen violated party discipline, formed cliques and factions and undermined the Shanghai Clearing House’s political environment, watchdog says

· Two-Fifths of Chinese Population Vaccinated, Nongfu Spring’s Market Value Plummets, Smaller City Banks Suspend Home Loans

The 10 most-read domestic stories on Chinese social media also include the likely promotion of Hong Kong’s police chief and the lychee harvest in Guangdong

· China’s Chip Investment Moves Ahead Full Throttle

New report says 164 Chinese semiconductor companies raised $6.2 billion in the first five months of 2021, already meeting 2019’s full-year total

· Delta Variant Forces Guangdong to Expand Who Counts as a ‘Close Contact,’ Official Says

More than 160 local infections in the southern province over the past month have forced local authorities to conduct mass testing, impose lockdowns and issue ‘stay-at-home-orders’ in certain areas

· Nike CEO Says Brand Is ‘of China and for China,’ Colombia’s President Attacked, U.S. UFO Report

Social media users are following Ukraine’s withdrawal from a Canada-led joint statement on Xinjiang at the U.N. Human Rights Council, and anti-lockdown protests in London

Click here to read more of the latest news.

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