Jul 23, 2021 03:03 PM

Shanghai Composite Index Fell 0.68% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.68% on Friday, while the Shenzhen Component Index (399001.SZ) fell 1.53%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.18% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.1%.

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

· China’s New Carbon Market Inks First Bulk Agreement

Sinopec to pay China Resources $817,190 for 100,000 tons of carbon emission credits, pricing the quotas at $8.18 a ton

· Two Found Dead in Flooded Zhengzhou Expressway Tunnel

Death toll from record flooding hits 33 after torrential rain quickly filled tunnels and swamped more than 100 vehicles

· IQiyi Wins Streaming Deal With English Premier League

Chinese platform cuts four-year accord adding to its array of sports streaming that includes LaLiga, World Cup, Australian Open and PGA Championship

· Faraday Future Shares Slump on Nasdaq Debut

Deal proceeds even as Zhuhai government drops out of $1 billion SPAC plan to fund Jia Yueting’s long-struggling electric-car startup

· World Leaders and VIPs Shun Olympics’ Opening Ceremony Amid Covid Resurgence

Most G-20 leaders will be absent, and prominent Japanese sponsors have declined invitations

· Death Toll From Henan Floods Rises to 33, Eight Missing

Province issues two red alerts Thursday warning of more heavy rain

· China Coal Chemical Project Suspended Over Its Gluttonous Energy Appetite

China Coal Chemical Project Suspended Over Its Gluttonous Energy Appetite

· Donations Pour Into Flood-Ravaged Central China, Nanjing Launches Citywide Covid-19 Testing, U.S. Diplomat to Visit China

Tokyo Olympics opening ceremony director sacked and Shandong province reports its first delta variant case

· China Rejects WHO Plan to Reinvestigate Covid Lab-Leak Theory

The proposal ‘defies science’ and is ‘impossible’ to accept, says ‘shocked’ senior health official

· Analysis: The Impact of U.S. Ban on Chinese Researchers on International Study Plans

As many as a quarter of science and tech postgraduates could see their applications rejected, according to some estimates

Click here to read more of the latest news.

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