Caixin
Aug 09, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 1.05% on Monday

China’s benchmark Shanghai Composite Index (000001.SH) gained 1.05% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.77%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.77% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.98%.

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

· Cover Story: How Should China Respond to the Delta Variant?

While some now challenge the ‘zero-case’ Covid strategy as too costly, others say it works and China should expand medical resources for long-term virus coexistence

· Beijing Prosecutor Mulls Civil Action Against Tencent for Alleged Harm to Youth

The public-interest civil suit says the tech firm’s ‘youth mode’ breaches national law protecting minors, without saying how

· Opinion: As Delta Spreads, Does China’s Virus Strategy Need a Rework?

Local experts discuss the spread of the highly infectious strain and overseas vaccine options

· Alibaba Warns of Higher Taxes as China Crackdown Widens

E-commerce giant tells investors the government has stopped treating some of its businesses as Key Software Enterprises which earn a preferential 10% tax rate

· Chinese Export, Import Growth Shrivels in July as Virus Risks Reemerge

Goods exported at slowest clip all year as analysts warn new outbreaks could drag on recovery

· Weekly Must-Read: China’s Launch of World’s Largest Carbon Market Has a Sputtering Start

China has launched its long-awaited national carbon trading market, marking a major step by the world’s largest greenhouse gas emitter to realize ambitious climate goals.

· Opinion: Why China May Win the Most Gold Medals in Tokyo

Six ‘dream teams’ dominate their events, and rising stars in other sports pitch in as the handed-down spirit of previous generations pays off, sports commentator Yang Wang writes

· Energy Insider: Regulators Move to Limit Prices of Fertilizer and Plate Glass

Shanghai Electric president dies in fall at age 50; coal mining profits double in first half; lithium stocks surge; Ganfeng Lithium to invest $1.3 billion in battery projects

· Fidelity Cleared to Open Its Own China Mutual Fund Business

American investment giant joins BlackRock as rivals line up for approval to tap the wealth market amid easing controls on financial services

· China Issues Sweeping New Rules for Credit Rating Companies

Central bank and top economic planner lead five central government bodies in imposing standards to clean up a scandal-plagued industry

Click here to read more of the latest news.

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