Jul 16, 2021 03:03 PM

Shanghai Composite Index Fell 0.71% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.71% on Friday, while the Shenzhen Component Index (399001.SZ) fell 1.3%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.27% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.96%.

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

· China Plugs In National Carbon Trading Friday

Shanghai Environment and Energy Exchange is set to operate what will soon be the world’s largest carbon market

· Shanghai’s Pudong Designated for More Market Restructuring

District is to be the test bed for a broad range of financial-opening initiatives and become a global powerhouse, according to State Council plan

· Energy Insider: World’s Largest Steelmaker to Get Even Bigger

China’s national carbon market to start trading Friday; Henan bans thermal coal sales outside the province; former Hunan nuclear official comes under investigation

· China Southern Airlines to Be Country’s First to Test IATA Covid Pass

International Air Transport Association’s mobile app launched in March shows verified virus tests and vaccinations as 70 airlines sign up to give it a try

· Cosco Shipping Orders 10 Containerships for $1.5 Billion

Chinese container shipping giant joins global race to build new vessels amid a boom in demand for cargo transport

· Baowu Solidifies Global Steelmaking Crown With Major Acquisition

Company to take over Shandong Iron and Steel in the latest of a rapid series of deals that have made it the world’s largest producer

· Cover Series: The Regulatory Landslide Engulfing Chinese Tech Firms (Part 3)

The latest data security probes may reshape how products are developed for the domestic and overseas markets, experts say

· Caixin Explains: How China’s New Carbon Market Will Work

The national emissions trading scheme is designed to give companies an incentive to cut their emissions as the country transitions to low-carbon economy

· China Plans to Use BioNTech Vaccine as Booster Shot, Sources Say

Drug regulators complete an expert review of a Covid-19 mRNA jab developed by Fosun Pharma and the German pharmaceutical company

· Hong Kong Customs Says It’s Busted First Suspected Money Laundering Syndicate Involving Cryptocurrency

Officials shut down operation and arrested four men who allegedly laundered about HK$880 million using the digital token Tether

Click here to read more of the latest news.

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