Jul 21, 2021 03:03 PM

Shanghai Composite Index Rose 0.73% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.73% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 1.34%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.82% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.78%.

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

· Torrential Rains and Flooding Leave 12 Dead in Central China

Floodwaters swamp a train and subway station in Henan province’s capital Zhengzhou, forcing a rescue operation

· China’s Tightened Grip on Tech Share Sales Rattles Investors

Foreign venture capital funds that have backed and profited from Chinese startups reassess their China strategies following Didi crackdown

· China Rolls Out Financial Measures to Counter Baby Bust

State Council offers tax deductions, help with housing and more affordable child care to encourage couples to raise more children

· Debt-Ridden Anxin Trust Gets Government Bailout

Shanghai-owned enterprises form new company to take controlling stake in detained businessman Gao Tianguo’s former highflyer

· 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

· Wolf Warriors’ Director Wu Jing Wins Suit Against Company With Same Name, China To Promote Female Sci-Tech Talent

Anhui man in his 20s embezzles $10.8 million, Qingdao algae bloom may have long offshore life, and Afghan envoy’s daughter kidnapped in Pakistan

· Shenzhen Court Issues Landmark Ruling on Personal Bankruptcy

Debt restructuring agreement marks key step forward in efforts to set up a national system for insolvent individuals

· Another China Development Bank Executive Ensnared in Graft Probe

Xu Weihua, former president of the bank’s Hainan branch, is under investigation by the top anti-corruption agency

· 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

· Chief of Aerospace Company Arrested for Assaulting Scientists

The chairman of China Aerospace Investment, a subsidiary of a key contractor for the nation’s space program, has been removed from office

Click here to read more of the latest news.

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