Caixin
Jul 29, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 1.49% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) gained 1.49% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 3.04%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 4.59% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 5.32%.

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

· Analysis: What the Deadly Zhengzhou Floods Teach Us

The Zhengzhou catastrophe that claimed dozens of lives shows how extreme weather incidents are testing big cities’ emergency response capacity

· Billionaire Sun Dawu Sentenced to 18 Years in Jail

Tycoon who founded Hebei Dawu Agricultural group was convicted on a range of charges including illegal mining and illegal fundraising

· Regulator Fines Banks $1.4 Million for Property Loan Violations

Shanghai office of CBIRC penalizes branches of the four biggest state-owned banks as China continues attack on irregularities in the real estate market

· Opinion: The Who, What and Why of China’s Regulatory Campaign

Seven types of companies are in the firing line, including those viewed as ‘too big to fail.’ Overseas investors need to start to understand the government’s rationale

· Huawei Removes Director at Autonomous Driving Unit Over Tesla Safety Remarks

The senior executive had stated the U.S. automaker’s self-driving feature had a ‘high accident rate’ resulting in the ‘killing’ of passengers

· China Calls on Taliban to Cut All Ties With Terrorists

Foreign Minister Wang Yi says the Afghan organization is expected to play an important role in regional security at a meeting with a visiting delegation in Tianjin

· China’s Top Court Rules Facial Recognition Without Consent Is Illegal in Civil Cases

Judicial interpretation applies law and regulations governing the use of the technology to civil matters involving homes and public venues such as shopping malls, hotels and banks

· South China Coal Power Giant Makes Yet Another Big Bet on Solar

The 12 billion yuan project in Qinghai province is the sixth new-energy project that Guangdong Electric has announced in the past year, with the combined investment representing about two times its total annual revenue

· Henan Braces for Typhoon After Deadly Floods, Tangshan Earthquake Anniversary, Nanjing’s Growing Covid Outbreak

China’s foreign minister urges U.S. to lift sanctions, visa restrictions on Chinese citizens, and Shanghai relocates more than 350,000 due to Typhoon In-Fa

· In Depth: The Fall of China’s Last Bitcoin Mining Haven

A manager and an investor of a Sichuan Bitcoin mining farm told Caixin about how they had been building their wealth during China’s crypto gold rush — and now they couldn’t do that anymore

Click here to read more of the latest news.

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