Caixin
Sep 09, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.49% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.49% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.07%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.75% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.06%.

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

· China Railway’s Cargo Unit Surges 44% on Shenzhen Debut

Initial public offering raises $267 million for the freight business to invest in logistics and storage, cold chain transit and information platform

· Four Things to Know About China’s New National Pension Insurance Company

After gaining regulatory approval, the $1.72 billion institution funded by big financial institutions is set to augment the third pillar of China’s retirement system

· Tencent, NetEase Summoned Over New Gaming Rules for Kids

Regulators order online gaming companies ‘to strictly enforce’ stringent new limits on minors’ playing time

· Haitong Securities Probed in Client’s Financial Reporting Fraud Case

CSRC deals another blow to a scandal-plagued brokerage house amid tightening Chinese scrutiny of financial intermediaries

· Energy Insider: China Starts Trial of Clean Power Trading

Fertilizers get a rail transport price break; Three Gorges to shut down manganese unit; domestic flights fall 40% amid Covid-19 resurgence

· China Powers Up Pilot Program for Trading in Green Electricity

Producers can sell clean electricity directly to end-users at exchange centers set up in Beijing and Guangzhou

· In Depth: Huarong’s $3.4 billion Debacle on a South Korean Tourist Trap

The undeveloped plot of land bought by the state-owned bad-asset manager is now worth about one-third what it paid, underscoring its woeful history of bribery-fueled investments

· Foreign Ministry Spokesperson Calls Story of Chinese Kabul Airport Takeover ‘Fake News,’ 969 Million China Citizens Fully Vaccinated, Qianhai Zone Expanded

National holiday gatherings not encouraged says CDC expert, and 660 celebrity-focused companies cancel registrations in 2021

· Offering a Bribe Could Soon Get You Blacklisted in China

The country’s top corruption watchdog will work with other authorities to consider appropriate punishments, a CCDI official said

· China’s IT Industry Needs New Approach to Cut Emissions, Experts Say

Mobile telecoms networks and data centers nationwide urged to adopt new strategies and technologies to lower power usage to meet carbon reduction targets

Click here to read more of the latest news.

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