Caixin
Sep 29, 2021 03:03 PM
FINANCE

Shanghai Composite Index Fell 1.83% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 1.83% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.64%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.61% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.13%.

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

· Analysis: Severe Coal Supply-Demand Imbalance Challenges Winter Supply

Many provinces impose power rationing as surging power demand runs into supply constraints; high prices and shortages of coal reflect past regulatory crackdown

· China’s Container Giant CIMC Acquires Maersk’s Cold Container Manufacturing Unit for $1 Billion

Acquisition gives CIMC access to Maersk’s high-end refrigerated marine container technology, boosts CIMC plans for growth in transporting perishables

· Canadian Citizens Released After Being Granted Bail for Medical Reasons

Michael Kovrig and Michael Spavor had been held in China since late 2018 on espionage charges

· Power Outages Are Putting Lives at Risk in China’s Energy-Rich Northeast

In Liaoning province, 23 people require hospitalization after a power cut at a factory shut down ventilation, leading to carbon monoxide poisoning

· Eying a Falling Birth Rate, China Vows to Get Tougher on Domestic Violence

New guidelines issued to promote ‘healthy’ family relationships and gender equality

· HNA Seeks to Repay Less Than Half of Debt Claims Sought Against Airline Unit

Creditors want 400 billion yuan from financially troubled Hainan Airlines, but now they will be asked to accept far less

· Tech Insider: Mass-Produced Satellites, Industrial Robots, Huawei’s Latest Cloud Venture

Alibaba invests in Singaporean van startup and plans for robot deliverymen at home

· In Depth: How Evergrande’s Founder Played the Capital Markets

Hui Ka Yan had a knack for creating hype that drove the debt-ridden developer to a stratospheric valuation, allowing it to borrow ever larger amounts

· What’s Behind China’s Regional Power Outages

A coal shortage and a resurgent economy are forcing electricity rationing to industry and households alike

· Ex-Regulator Accused of Taking Bribes While Overseeing State Takeover of Bank

Li Guorong misused his power when acting as a senior executive supervising the takeover of Baoshang Bank, China’s top graft-buster says

Click here to read more of the latest news.

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