Caixin
Jul 20, 2021 03:03 PM
FINANCE

Shanghai Composite Index Fell 0.07% on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.07% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.12%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.56% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.41%.

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

· More Than 40% of Hongkongers Have Received One Covid-19 Shot  

70% of the population to have had their first dose of the vaccine by the end of September, official says

· Bankrupt HNA Group Struggles to Repay 60,000 Retail Investors

HNA employees and relatives file claims for $4.6 billion of wealth management products purchased from HNA units

· Energy Insider: China’s Power Usage Hits Daily Record; Great Wall Recalls 16,000 EVs

Steel industry braces for curbs while racing to slash emissions; EU carbon border tax to hammer China’s heavy industries; Great Wall unit mass-produces cobalt-free batteries

· China’s Heavy Industry Faces Profit Pressures From EU Carbon Border Tax, Analysts Say

Chinese companies that have paid for emissions at home will likely be able to offset part of the tax required by the EU, an analyst says

· Tsinghua Unigroup’s Bankruptcy Restructuring Sets Back China’s Chip Dreams

Company that once counted Intel as a major partner ran into financial troubles after expanding too aggressively into the costly sector

· China’s Public Health System Fails to Get Rare Disease Sufferers the Drugs They Need, Experts Say

Some innovative medications approved outside China are still awaiting domestic approval, and some that have been approved haven’t been included in the medical insurance program

· China’s Steel Industry Braces for Curbs Under Forthcoming Carbon Neutrality Plan

Move comes as Beijing vows to produce less crude steel in 2021, leaving steel firms and local governments to struggle with balancing economic and environmental concerns

· Three Chinese Kidnapped in Mali, Didi’s Cybersecurity Probe, Europe’s Deadly Floods

China sends criminal investigators to Pakistan to look into bus explosion, and top health authority emphasizes that vaccinations are voluntary

· Credit Suisse’s Ex-China Chief Joins AI Startup SenseTime

Sources told Caixin that Tang Zhenyi is expected to start work at the Beijing-based high tech firm this week

· China Merchants Bank Joins Digital Currency Trials

The commercial bank and eight other lenders will participate in research and development of China’s new virtual yuan

Click here to read more of the latest news.

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