Jul 30, 2021 03:03 PM

Shanghai Composite Index Fell 0.42% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.42% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.29%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.17% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.56%.

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

· Opinion: How U.S. Global Infrastructure Push Will Affect Belt and Road

While Biden’s funding ability may be shaky, the world is desperate for investment, and China would probably benefit from a little competition, two scholars say

· Didi Denies Report That It Plans to Go Private

Shares bounce on NYSE after Wall Street Journal reports that reversing last month’s IPO may be one way of addressing China regulatory woes

· AmCham China Sends $18.8 Million to Henan for Flood Relief

Caterpillar, 3M, Coke, Google and Walmart join in sending cash, water, food, clothing and equipment to province following disaster

· In Depth: Post-Pandemic Recovery Diverges Province by Province across China

Robustness of first-half consumer spending separates winners from losers while burden of new carbon policies falls unevenly

· Huang Ming-Tuan Named Chairman of

Founder of Sun Art Retail, representing No. 2 shareholder Alibaba, succeeds billionaire Zhang Jindong after $1.36 billion Alibaba-led bailout

· China’s New ‘Tough but Wise’ Envoy to Washington Vows to Put Relations ‘Back on Track’

Veteran Qin Gang takes role as diplomatic tensions remain high on several issues

· Chinese Sellers Cry Politics in Amazon Ban Over Fake Reviews

Industry group complained to Beijing about U.S. e-commerce giant’s action against the businesses, some of which are facing bankruptcy

· 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

· In Depth: China’s Generation Z Inspires Homegrown Beverage-Makers to Take On Coca-Cola

Genki Forest and HeyTea whet investor appetites with ‘China Chic’ to earn pumped up valuations as the two go head-to-head with the U.S. giants

· Nanjing Outbreak Spreads to Six Provinces, Adidas Fined for Fire Violations, Inhalation Vaccine Boosts Immunity

Tokyo’s daily new Covid-19 cases exceed 3,000 for first time and China’s new ambassador Qin Gang arrives in the U.S.

Click here to read more of the latest news.

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