Aug 25, 2021 03:03 PM

Shanghai Composite Index Rose 0.74% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.74% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.23%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.23% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.54%.

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

· Beijing Outlines Plan for Regulating Housing Rents

Capital city may follow Shenzhen in limiting rent increases and tenant deposits while outlawing abuses exposed in collapse of Danke rental platform

· China’s Li Bo Named Deputy Managing Director of IMF

Central bank veteran will oversee the fund’s work in 90 countries as he fills a vacancy left by the expiration in July of Zhang Tao’s term

· Gambling Stocks Surge as Macau Eases Covid Test Rules

Travelers entering from Guangdong must hold negative test results within seven days, a relaxation of 48-hour requirement in place since Aug. 9

· Family Feud at Pork Giant Intensifies as Claims of Founder’s Ousted Son Rejected

WH Group’s board hits back at allegations made by Wan Hongjian after he was removed as a director for misconduct

· Six Things You Should Know About China’s Personal Information Protection Law

The law ‘gives information owners as comprehensive a set of rights as possible,’ a Renmin University law professor says

· Court Sends Former Beijing Judge to Prison for Taking Bribes in Criminal Gang Case

Song Jie was sentenced to four years for her handling of a 2015 case that wrongfully convicted the defendant

· Ex-Head of Hong Kong Monetary Authority Backs Using Yuan to Invest in Hang Seng Index Stocks

Joseph Yam said the move could advance the internationalization of the Chinese currency

· China Seeks to Quell Investors Ganging Up to Drive Down IPO Prices

Compressing quotations in Shanghai’s STAR Market and Shenzhen’s ChiNext has been a recurring problem

· WHO Calls for Halt to Booster Shots, Taliban Announce Amnesty for Ex-President, Zhang Wenhong Cleared

East China city launches campaign to crack down on illegal ties between government and business, and Pfizer-BioNTech vaccine gets full approval in U.S.

· Sees Profit Plunge, but Manages to Boost Revenue Despite Tech Crackdown

Chinese e-commerce giant’s second-quarter net profit slid to 794.3 million yuan from more than 16.4 billion yuan a year earlier as marketing and fulfillment costs ate into its growing income

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