Caixin
Jul 19, 2021 03:03 PM
FINANCE

Shanghai Composite Index Ended Nearly Flat on Monday

China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.14%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.72% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.49%.

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

· Cover Story: The Rocky Path Facing Chinese Companies Tapping U.S. Markets

New requirements for government cybersecurity reviews in proposed IPOs adds to headwinds for tech companies seeking foreign share sales

· Anbang’s Remains Put Up for Sale With a $5.2 Billion Valuation

Two state-owned firms are looking to sell off nearly 99% of the equity of Dajia, the company created to take over the assets of the scandal-plagued Chinese insurer

· Weekly Must-Read: How China’s New Carbon Market Works

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

· Alibaba-Backed XPeng Shows Off Its Latest Flying-Car Prototype

Money-losing Chinese EV-maker aims to grab a slice of the increasingly competitive market

· Weekend Long Read: Five Ways AI Will Put China Ahead

China is well-poised to maintain its position as the world’s factory by virtue of its advantages in big data, AI, automation and intelligent production capacity, writes Kai-fu Lee

· Energy Insider: Baowu Plans $7.7 Billion Carbon Fund; China’s National Carbon Market Debuts With Turnover of 4.1 Million Tons

China opens coal reserves to ease tight supply as output falls in June; first-half steel production rises 11.8%; China-built solar farm in Singapore starts operation

· Beijing’s Top Hong Kong Official Lauds National Security Law

Xia Baolong declares that legislation kept ‘Hong Kong safe, secure and peaceful’ since it was enacted in June 2020

· China’s Digital Yuan Trial Reaches $5.3 Billion in Transactions

Central bank white paper reports 20.8 million users made 70.7 million transactions and says tests will continue

· China Extends Takeover of Nine Tomorrow Holding Units

Banking and securities regulators will take a second year to unravel financial risks in pieces of fallen tycoon Xiao Jianhua’s former empire

· 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

Click here to read more of the latest news.

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