Shanghai Composite Index Rose 0.34% on Thursday
Below is a rundown of the top China business and finance stories, plus other news for the day:
State Grid pays $510 million for Brazilian company; China rolls out world-beating maglev train; aluminum alloy plant explodes in Henan flooding
Chen Xing on stalled Line 5 train fails to escape through surging waters but is rescued after passengers smash windows for air in swamped car
Central bank’s research chief elaborates on plans to support newly issued guidelines designating the city’s Pudong district to take the lead in further financial opening-up
Deputy Secretary of State Wendy Sherman, who is set to meet with Foreign Minister Wang Yi in Tianjin on Sunday, will be the second senior American official to visit since Biden took office
Chinese SOE takes 66% of power distributor CEEE, which is being sold by the government in an effort to improve its efficiency
Floodwaters swamp a train and subway station in Henan province’s capital Zhengzhou, forcing a rescue operation
New rules will require financial institutions to write living wills detailing how they will cope in the event of a crisis
The debut paves the way for large-scale deployment of trains capable of speeds of up to 600 kilometers per hour
Shanghai to get support for yuan liberalization, and global CO2 levels reach 800,000-year high
New backers should be capable of taking over core chipmaking and cloud computing businesses, company says
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