Jul 07, 2021 03:03 PM

Shanghai Composite Index Rose 0.66% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.66% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 1.86%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.43% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 3.57%.

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

· Energy Insider: Shanghai Electric Probed for Disclosure Violations; Sinopec Builds China’s Largest Carbon-Capture Project

Coal-rich Shanxi province to expand government coal reserves; provinces move to curb steel production; Tianqi Lithium unit gets $1.395 billion from Australia’s IGO

· Xi Calls for World Leaders to Cooperate in Addressing Global Challenges

Chinese president in keynote speech to World Political Parties Summit says ‘the world is broad with opportunities for cooperation everywhere’

· Bitcoin Hammered Again as China Continues Cryptocurrency Crackdown

Authorities shut down Beijing Qudao Cultural Development on suspicion of providing crypto software services, driving Bitcoin below $34,000

· Update: China to Tighten Oversight of Foreign-Traded Companies

Amid Didi probe, State Council moves to crack down on illegal activity in securities market with tougher supervision of overseas listed Chinese companies

· Cover Story: China’s 10-Year Campaign to Nourish Rural School Kids

Remote Du’an county shows successes of ambitious program but also the daunting challenges of rising food and operating costs

· Key Researcher Leaves Chinese Mainland’s Leading Chipmaker

SMIC has seen its core research team go through major changes since the end of last year

· Didi Denies Passing User Data to U.S., Vitasoy’s Shares Plunge After Boycott Call, U.K. to Lift Covid-19 Restrictions

Sichuan family’s fine for having eight children reduced and Canadian luxury clothing company abandons fur

· China-U.K. Business Group Says Ties Are Strong, Growth Prospects Are Good

Trade, investment, pandemic response and joint efforts to combat climate change discussed at CBBC-hosted conference

· Alibaba Joins $1.36 Billion State-Backed Bailout of Debt-Ridden

Rescue consortium that also includes appliance-makers Midea and Haier takes 17% stake in beleaguered retail giant

· China Urges U.S. to Reconsider Alleged Visa Denials to Hundreds of Grad Students

Applicants to Harvard, Yale and MIT, many on scholarships, rejected under Trump-era proclamation, state media reports

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