Caixin
Jul 08, 2021 03:03 PM
FINANCE

Shanghai Composite Index Fell 0.79% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.79% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.38%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.6% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.69%.

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

· Energy Insider: Baowu Steel Prepares for Mixed-Ownership Projects; First Hydrogen Heavy-Truck Fleet in Operation

Energy-rich Xinjiang region generates 34% more electricity in first half; Zhengzhou Coal resumes output after safety inspections; Guangzhou Development in LNG deal with BP

· Wuhan Reports 52 Covid Cases in Arrivals From Afghanistan

Chartered flight to evacuate Chinese from deteriorating security situation results in one of China’s largest imported clusters of the pandemic

· Exclusive: Bond Market Makers Disciplined for Phony Trades

Regulators blast Minsheng Bank, Guosen Securities and Guangdong Nanyue Bank for volume-inflating round-trip transactions in a warning to the market

· Exclusive: China to Roll Out New Lending Tool to Support Green Push

State Council plans monetary policy instruments to encourage funding for clean energy and carbon reduction projects

· Cross-Border Digital Payments Trial to Start by Year-End

Test of platform led by Hong Kong to involve banks and exchanges in Thailand, the United Arab Emirates, the Chinese mainland and Hong Kong, HKMA chief says

· Update: China Tightens Oversight of Overseas-Listed Companies Amid Data Security Concerns

In wake of Didi probe, Beijing vows tougher supervision of overseas listed Chinese companies

· China’s Wingtech Buys Troubled Top U.K. Chipmaker

Contract smartphone-maker to buy Newport Wafer Fab through its Nexperia Dutch unit, even as one British politician raises concerns

· Four Things to Know About China’s Latest Crackdown on Cryptocurrencies

Regulators have stepped up efforts to crush cryptocurrency trading and are now aiming to wipe out Bitcoin mining in the country

· China Marks Anniversary of Start of War With Japan, Xi’s Call for Cooperation, South Korean Development

Beijing urges U.S. to reconsider alleged visa denials to hundreds of grad students, and Elon Musk admits to underestimating difficulties of autonomous driving

· Realty Giant KE Remodels Itself With $1.2 Billion Renovation Purchase

Deal marks one of biggest acquisitions to date for owner of the Lianjia and Beike residential property brands

Click here to read more of the latest news.

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