Caixin
Sep 07, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 1.51% on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 1.51% on Tuesday, while the Shenzhen Component Index(399001.SZ) rose 1.07%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) ended nearly flat for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.72%.

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

· Energy Insider: China’s Electric Vehicles Sales to Triple in First Eight Months

Meeting China’s carbon-reduction goals may cost $21 trillion; China approves three city clusters for hydrogen fuel cell vehicle development; solar panel glass prices rebound

· China May Expand Stock Connect Programs to Hong Kong and London

CSRC Chairman Yi Huiman lays out further steps for opening China’s capital markets to foreign investors and for collaborating with foreign regulators

· Shares Surge on Launch of New Beijing Exchange

Brokerage stocks gain as all 66 ‘select tier’ companies on NEEQ rise and market values of two lower levels post increases

· WeChat Offers Cloud Storage, Queen Elizabeth’s Funeral Plans, Lithuania Recalls Ambassador to China

Xiaomi denies its CEO sold 300 million shares and Chinese authorities vow to take action against workplace gender discrimination

· China’s Support for Private Economy Has Not Changed, Vice Premier Says

Liu He’s latest remarks can be seen as a renewed attempt to reassure beleaguered stock market investors following months of tough regulations

· China Plans to Diversify Macao’s Economy by Setting Up Greater Bay Area Industry Zone

Hengqin, an island in Guangdong province, will be the site of in-depth cooperation between Macao and the mainland

· Taxation Can Be a Tool to Bolster Data Governance Goals, Tsinghua Professor Says

Data regulations need taxation to balance consumer rights and market efficiencies with societal interests and fairness, former PBOC monetary policy member says

· JD.com Founder Hands Over Day-to-Day, but Retains Stranglehold on Overall Control

Richard Liu is the latest tycoon to step back and announce government-aligned philanthropic goals

· Bad Property Loans Rise as Rules Get Tougher

China’s large or midsize listed banks see the quality of their assets decline due in part to the liquidity problems of debt-ridden developers

· Didi Denies Reports of Beijing Government-Led Takeover

Ride-hailing giant says it’s ‘untrue’ that the Chinese capital was coordinating state-backed firms to acquire a stake in the scrutinized company

Click here to read more of the latest news.

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