Caixin
Jul 26, 2021 03:03 PM
FINANCE

Shanghai Composite Index Fell 2.34% on Monday

China’s benchmark Shanghai Composite Index (000001.SH) lost 2.34% on Monday, while the Shenzhen Component Index (399001.SZ) fell 2.65%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.42% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.84%.

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

· Cover Story: How Historic Rainfall Overwhelmed Zhengzhou

Five-year-old, $8.3 billion ‘sponge city’ program for handling floods falls short as toothless red alert warnings go unheeded

· Weekend Long Read: How a London Power-Duo Outfoxed China’s Biggest Private Steel Giant

Shagang’s restructuring plan centered on a multibillion pound deal for a British data center operator. After five years, an insider trading investigation and a record trading suspension, was the deal worth it?

· China Mulls Unified Five Year Plan for Renewables

Official tells industry conference new energy plan will place greater emphasis on solar

· Weekly Must-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

· Beijing Orders Tencent to Give Up Exclusive Music Copyrights

Regulatory probe finds tech firm’s 2016 purchase of China Music Corp. stake breached Anti-Monopoly Law

· China Probes Property Development Industry in Continued Housing Crackdown

Regulators increase penalties for violations and vow to further clean up the housing market within the next three years

· Energy Insider: China’s Auto Sales Back to Pre-Pandemic Level

Strategic reserves to sell copper, aluminum and zinc to stabilize commodity prices; carbon market inks first bulk deal; coal chemical project suspended

· Chinese Education Stocks on NYSE Collapse Amid New Crackdown

Authorities issue sweeping new regulations restricting after-school tutoring, forcing an industry restructuring and banning share sales and foreign investments

· Debt-Laden China Oceanwide to Offload More of Its Stake in Minsheng Securities

Property conglomerate aims to raise money from sale to help pay off its borrowings

· Man Arrested for Blackmailing Kris Wu, World Leaders Shun Olympics Opening, Putin Sends Condolences for China Flooding

Beijing rejects WHO plan to reinvestigate Covid lab-leak theory and China’s child care services fall short

Click here to read more of the latest news.

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