Caixin
Jul 13, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.53% on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.53% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.18%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.66% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.56%.

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

· Didi Warns of ‘Adverse Impact’ After Takedown of 25 Apps

Regulatory crackdown undermines U.S.-traded shares while underscoring long-standing issues casting a shadow over ride-hailing company’s outlook

· Suning.com Founder Zhang Jindong Resigns as Chairman

Billionaire lost control over retailing giant following $1.35 billion state-led bailout as aggressive expansion resulted in liquidity crisis

· Energy Insider: China Prepares Policies for Energy Storage; Electric Vehicle Industry Faces Widening Battery Shortfall

China juices up drive into EV battery swapping centers; the country’s carbon market heads toward $25.9 billion this year; Zijin Mining’s Congo copper project gets going

· Cover Series: How SoftBank’s $11 Billion Bet on Didi Turned Sour (Part 2)

Ride-hailing giant’s rush to raise funds in a U.S. IPO may have been driven by pressure from investors eager to cash out some of their $35 billion of equity

· China Juices Up Drive Into EV Battery Swapping Centers

Carmaker Nio and gas station operator Sinopec join rush to build thousands of battery-changing centers in next five years to lay infrastructure for industry's expansion

· Chinese Solar Giants Seek Sunnier Valuations With Home Listings

CSI and Jinko Solar are aiming to raise a combined $1.5 billion through IPOs on China’s STAR Market to complement their U.S. listings

· Top China Credit Ratings Agency Sanctioned Twice in One Month

Dagong Global given six months to clean up its act after failing to properly analyze or inspect the businesses it was evaluating

· Chinese Developer Capital Land Seeks to Delist From Hong Kong Bourse After 18 Years

Company will be absorbed by Beijing-city owned stakeholder after years of lackluster turnover and low prices of its H-shares

· U.S. Reaffirms Commitment to ‘One China’ Policy, Beijing Cuts Banks’ Reserve Requirement, Shanghai Raises Minimum Wage

Didi told to remove 25 more apps as regulators ramp up crackdown and Washington blacklists 10 Chinese companies

· China Rail Trips Recover to 77% of Pre-Pandemic Level

About 1.37 billion trips were taken on the country’s railways in the first half, up two-thirds from 2020

Click here to read more of the latest news.

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