Caixin
Oct 11, 2021 03:03 PM
FINANCE

Shanghai Composite Index Ended Nearly Flat on Monday

China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.32%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.08% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.45%.

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

· Cover Story: How China Stumbled Into a Giant Energy Shortage

Surging electricity demand in a rebounding economy, plunging coal supplies and Beijing’s climate change policies create a perfect storm disrupting global supply chains

· What’s Off-Limits in China’s Newly Revised ‘Negative List’ for Investment

The latest annual draft revision reduces the number of industries subject to entry barriers, while adding new restrictions for media, finance and cryptocurrency

· Top Trade Negotiators From China, U.S. Agree to Solve Disputes Through Discussion

Video call between Vice Premier Liu He and U.S. Trade Representative Katherine Tai send a signal of further stabilization of rocky economic relations

· China Raises Cap on Electricity Prices in Bid to Tackle Power Shortage

State Council announces higher ceiling on prices to encourage coal-fired power plants to generate more

· Evergrande Creditors Brace for Battle on Offshore Assets

Situation is complex not just because of the humongous debt pile, but also because the restructuring will affect jurisdictions including the Chinese mainland, Hong Kong, the Cayman Islands and New York.

· Opinion: Fines on Meituan and Alibaba Show Effectiveness of Anti-Monopoly Law

Crackdown on anti-competitive practices will make companies recognize competition in internet sector

· China Fines Meituan $533 Million to End Antitrust Probe

Stock gains after end of months-long probe into anti-competitive practices

· Lenovo Withdraws Listing Application on STAR Market

No reason given for halt to highly anticipated $1.6 billion share sale by giant PC maker

· Already Starved of Funding, China’s Top Developers See Sales Slide

The latest drop in monthly sales shows how regulatory tightening hasn’t lost its bite

· Takeout Giant Meituan Fined $533 Million for Anti-Competitive Behavior

Market regulator orders the platform operator to return merchant deposits taken under exclusivity agreements that were declared illegal

Click here to read more of the latest news.

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