Shanghai Composite Index Fell 0.8% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.8% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.21%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.82% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.8%.

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

· Zhejiang Orders Production Suspensions to Meet Energy Targets

Textile, dyeing and chemical fiber companies affected by China’s campaign to cut climate-changing greenhouse gas emissions

· Energy Insider: China Certifies First Carbon-Neutral Oil Shipment

Regulators vow to stabilize fertilizer supply; paper product prices are on the rise; Cosco unit to acquire stake in Hamburg container terminal

· Former Chief of Chinese Liquor Giant Gets Life in Prison for Taking Bribes

Kweichow Moutai Group’s Yuan Renguo accepted $17.5 million for handing out lucrative distribution rights to China’s ‘national liquor,’ court finds

· Yunnan Cancels Power Price Discount for Aluminum Makers

China’s aluminum valley reverses 16%–22% electricity price break amid severe shortage following surge in new capacity

· China Drafts New Rules for Banks’ Overseas Yuan Lending to Boost Yuan Use

Regulators to relax curbs on types of loans but cap overall amount of a lender’s credit

· Banks Try to Calm Market Jitters by Disclosing Debts Evergrande Owes Them

Many creditors say the risks posed by their exposure to the developer is ‘controllable’ as their loans are backed by sufficient collateral

· Xi Sends Birthday Wishes to 100-Year-Old Nobel Laureate, U.S. to Relax Travel Restrictions, New Covid Vaccine

China, Russia and Pakistan send envoys on joint trip to Afghanistan, and delta outbreak in East China expected to be contained in a month

· Beijing Opposes Taiwan’s Application to Join Pacific Trade Pact

Foreign Ministry statement comes after Taipei announced it had applied to join the CPTPP

· Drugmakers Labeled ‘Seriously Dishonest’ Over Graft, Broken Contracts

The two blacklisted companies could get locked out of government procurement

· Ling Huawei: China Wakes Up to Need for Antitrust Regulation

The essence of a modern market economy is fair competition to protect consumer rights and the long-term interests of society

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This article was generated by Caixin Automation.

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