Shanghai Composite Index Rose 1.07% on Tuesday
China’s benchmark Shanghai Composite Index (000001.SH) gained 1.07% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.88%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.89% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.12%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Energy Insider: China’s Domestic Oil May Face Biggest Price Drop This Year
Tianqi’s lithium project in Australia to start operations this year; Ningxia calls energy offenders on the carpet; four rescued in coal mine roof collapse
· China’s Box Office Sales Slump Amid Covid Surge
With 20% of cinemas closed, movie ticket purchases slumped 37% last week with ‘Raging Fire’ raking in almost half the receipts
· Cover Story: How the Taliban’s Return Shakes Up Central Asia
China has a unique role to play in the transition as it is the least controversial among external powers involved in Afghanistan, experts say
· China to Speed Up Public-Private Partnership Legislation
Finance Ministry puts a priority on completing overhaul of PPP rules after four years of delays and disputes after NPC raises the issue
· Tencent-Backed Comics App Kuaikan Raises $240 Million
Deal values cartoonist Chen Anni’s seven-year-old digital platform at $1.25 billion as she weighs plans for an initial public offering
· Sale of Fallen Anbang’s Core Assets Delayed as Potential Bidders Drop Out
The auction of a 99% stake in Dajia, which holds the former insurance conglomerate’s core assets, has been pushed back by two weeks
· Debt-Ridden Evergrande in Talks to Sell Hong Kong Headquarters, Sources Say
The developer is looking to offload its own office buildings in southern China as financial regulators ratchet up pressure on the company
Tokyo Paralympics set to draw 130,000 students despite Covid concerns, and Biden issues new sanctions against Russian entities over Navalny poisoning
· Officials in Hangzhou Urged to Clean Up Their Conflicting Business Ties
The wealthy capital of Zhejiang province tells thousands of local officials to sever illegal business ties while Hangzhou party chief is investigated for ‘serious violations of discipline and law’
· Man Detained for Spreading Rumor That Hillhouse Founder Was Banned From Leaving China
The rumor about Zhang Lei was spread across social media earlier this month, along with claims that U.S. dollar investment funds could soon be targeted by Chinese regulators
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