Caixin
Oct 13, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.42% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.42% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 1.54%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.92% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.29%.

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

· China Lifts Curbs on Coal-Fired Electricity Prices Amid Power Crunch

NDRC pushes for industrial users to pay market-set rates and clears the way for prices to fluctuate as much as 20% from base levels

· Baoneng Auto Unit Defaults on $434 Million Trust Loan

Debt woes pile up for Yao Zhenhua’s nascent new-energy vehicle company, whose borrowing spree hasn’t produced a single car in four years

· Smarting From Dismal Phone Sales, Huawei Looks to Logistics and Energy

CEO Ren Zhengfei hopes his company can expand its business by applying its software systems to more industries

· Coca-Cola Plans to Stay Nimble to Take on Hip Local Brands

Head of global beverage giant's bottling partner says it plans to invest more than $854 million in factory infrastructure

· Sino-U.S. Natural Gas Deal Offers Fuel for a Thaw in Relations

ENN Ecological has agreed to buy LNG from Cheniere Energy starting in July

· Tech Insider: Xiaomi Bulks Up, Huawei Sprawls

Lenovo shipments slip and Honor clinches Google services

· As Power Outages Continue, Li Keqiang Urges Greater Energy Self-Sufficiency

Country should optimize its capacity by developing advanced coal producers and eliminating ‘backward ones,’ China’s premier says

· Xi Pledges Cash to Help Developing Countries Support Biodiversity

With an initial contribution of $232.5 million, China invites other parties to donate

· Six Things to Know About China’s ‘Southbound Bond Connect’ Program

The latest link will broaden the types of investments available to mainlanders, complementing the ‘northbound’ leg that was launched four years ago

· China Aims to Give Online Cosmetics Sales a Makeover

The yearlong crackdown is targeting products that are unregistered, have fake or misleading labels, or contain harmful ingredients

Click here to read more of the latest news.

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