Caixin
Sep 23, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.38% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.38% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.77%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.63% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.57%.

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

· In Depth: How a Liaoning Bank Got Sucked Into the Evergrande Vortex

Shengjing Bank’s biggest shareholder is Evergrande, and authorities are probing $15.5 billion of transactions between the property giant and the regional bank

· Banking Regulator Puts New Emphasis on Governance, Data Management

In first update to seven-year-old bank risk assessment criteria, CBIRC reduces the weight of profitability

· Cosco Unit to Pay $116 Million for Hamburg Terminal Stake

Chinese shipping giant cuts a deal to acquire 35% of a German container operation, expanding its logistics network in Europe

· Ant Group Lending Platform Huabei Resumes Sending Credit Data to PBOC

The online consumer lender takes a step toward complying with rules designed to bring the risk-prone industry into the regulatory fold

· Ant Group Consumer Lending Platform Starts Handing Over Data to PBOC, Rent-Free Decade for South Koreans With Two Kids

Li Ka-Shing sells Shanghai building, Luckin Coffee offers millions to settle lawsuit, Universal Beijing resort opens to public

· China Top Coal Miners Guarantee They'll Provide Enough to Avoid Winter Blackouts

With peak winter season approaching, the government is keen to avoid a repeat of last year’s blackouts amid coal shortages and surging prices

· Top China Metals Companies Busted for Breaking Environmental Pledges

China Nonferrous Metal Mining and China National Gold among those caught mishandling hazardous waste and encroaching on nature reserves

· Xi Says China Will Not Build New Coal-Fired Power Plants Abroad

In an address to the U.N., the president pledges more support to developing countries for green energy

· Scandal-Racked Luckin Coffee Plunged $866 Million Into the Red in 2020

Losses widened 77% in the year the coffee chain’s vast accounting fraud was revealed

· In Depth: How Evergrande Hid Its Debt

The embattled developer has shown itself to be a master at hiding debt, employing methods such as debt disguised as equity and acquisitions that have yet to be paid for

Click here to read more of the latest news.

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