Caixin
Sep 08, 2021 03:03 PM
FINANCE

Shanghai Composite Index Ended Nearly Flat on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 0.1%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.8% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.97%.

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

· China Gives Covid-19 Shots to More Than 1 Billion People

Health authorities race to complete vaccinations in the world’s most populous country to fend off the fast-evolving pathogen

· China’s Central Bank Says Liquidity Is Ample and Balanced

Top officials say People’s Bank of China has ample tools to maintain prudent monetary policy and more leeway than the Fed

· UBS Names Tech, Media and Telecom Head for Southeast Asia and India

Warren Wu’s appointment is part of the global bank’s strategy of focusing on new-economy industries in a key strategic region

· Hong Kong Banks Ready to Sell Cross-Border Wealth Management Products Soon, Report Says

Some major lenders in the financial hub have reportedly conducted final technical tests for implementation of the investment plan for the Greater Bay Area

· Guinea Coup Triggers Chinese Embassy Security Alert, Germany’s Ambassador to China Dies, Hong Kong Actor Nicholas Tse to Renounce Canadian Citizenship

China will take action against workplace gender discrimination, and WeChat will put a price tag on cloud storage

· Evergrande Pays Back Paint Supplier in Property as Overdue Debt Piles Up

The teetering real estate giant still owes Skshu Paint 100 million yuan in overdue commercial paper

· Tech Insider: Didi Rival Cao Cao Raises $589 Million, Xiaomi Takes Global Wearable Band Top Spot

Self-flying vehicle maker EHang launches tests in Estonia, Baidu Ventures closes $400 million hard-tech fund

· China, Indonesia Launch Framework for Settling Trade, Investment in Local Currencies

Five Chinese commercial banks, and several Indonesian and other Southeast Asian banks have been chosen to undertake transactions under the initiative

· Charges Dropped Against Ex-Alibaba Manager in Workplace Sexual Assault Case

Prosecutors say the man’s actions toward his female colleague in the highly publicized incident were ‘not a criminal offense’

· Hong Kong to Forego Quarantine for Visiting Mainland and Macao Residents

The city will also allow local residents coming in from the two regions to return without going through mandatory isolation

Click here to read more of the latest news.

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