Caixin
Sep 16, 2021 03:03 PM
FINANCE

Shanghai Composite Index Fell 1.34% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) lost 1.34% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 1.91%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.39% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.24%.

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

· Caixin Explains: What’s at Stake in the Massive Unigroup Restructuring

Bidders for the $46 billion business with a prominent role in China’s chipmaking ambitions include SOEs from Guangdong, Beijing and Wuxi, plus Alibaba

· Huawei Launches Industrial Operating System for Coal Mines

HarmonyOS-based software replaces grab bag of Linux, Unix and Windows systems and promises greater efficiency and safety in mining

· Huarong Puts $58.8 Billion of Bad Assets Up for Sale

Scandal-plagued bad-debt manager moves to speed up revitalization and restructuring following announcement of rescue plan led by Citic

· In Depth: China Tries to Calm Skittish Investors Amid ‘Regulatory Storm’

After sweeping rule changes sank shares in industries from after-school tutoring to big tech, some investors have cried foul and nearly everyone is pushing for more predictability

· Denmark Lifts Covid Restrictions, Chinese Embassy Slams U.K. Parliament’s Ban on Envoy, Putin Self-Isolates

China’s two epidemic prevention mini programs on Alipay combined and Uniqlo boss loses crown as the richest person in Japan

· Chinese Investors to Get Connected to Hong Kong Bond Market

‘Southbound leg’ of Bond Connect will complete the two-way trading system between domestic and offshore institutional investors

· Undeterred China Vaccine-Maker Reapplies for Hong Kong IPO After Rejection

AIM Vaccine tries again after first bid was knocked back in July as it seeks to raise capital amid a domestic race to develop mRNA Covid-19 vaccines

· China KFC Operator Warns Third-Quarter Profits May Be Slashed in Half on Delta Outbreak

Yum China says spread of the coronavirus variant and subsequent travel restrictions has ‘sharply reduced sales’

· Chinese Internet Firms Told to Tear Down ‘Walls’ That Block Links to Rivals

The practice of turning platforms into ‘walled gardens’ is common, with some of the biggest players also the biggest offenders

· China’s New Human Rights Plan Aims for Better Protection of Women, Children

The five-year action plan aims to eliminate workplace gender discrimination and prevent crimes against minors

Click here to read more of the latest news.

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