Caixin
Oct 15, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.4% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.4% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.52%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.18% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.88%.

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

· Microsoft Shuts Down LinkedIn in China, Citing ‘Challenging’ Climate

Professional networking site becomes the last major U.S. social media platform to pull out of the world’s most populous country

· Energy Insider: Battery Production Triples on EV Boom

China lifts curbs on coal-fired electricity pricing; CATL to invest $5 billion in a battery industrial park; auto exports more than double

· Evergrande Hit to Chinese Lenders Is Manageable, Moody’s Says

Global credit rating company finds that while banks’ direct exposure is limited, fallout from the property giant’s crisis could trigger deterioration for the real estate sector

· Shares of Futu, UP Fintech Plunge in U.S. on People’s Daily Article

Chinese online brokerage giants will face tough obstacles in complying with new data protection law, according to state media analysis

· Battery-Grade Lithium Price Jumps More Than Fourfold to Hit New Record

As supply stagnates and demand for electric cars booms, some smaller players are being squeezed

· In Depth: The Wild West of China’s Bond Market That Regulators Want to Tame

Authorities are trying to fix the problems that have made it difficult to correctly value junk bonds, including inflated ratings, implicit government guarantees and the ongoing issues with structured issuances

· European Businesses Want More Clarity About Power Cuts as Outages Persist

‘We need far better communication from the government to help our companies cope. We don't ask for privileges, we just ask for clarity,’ president of European Chamber in China says

· Moody’s Predicts Economy-Rattling Drop in Land Sales Revenue for Local Governments

A decline next year in one of the largest sources of income for local governments could put a dent in growth as officials struggle to make ends meet

· Three Gen X Astronauts to Crew Shenzhou-13’s Mission Set for Saturday

The young team will spend six months working on completion of China’s Tiangong Space Station

· Overseas Drive Pays Off as China’s Auto Exports More Than Double

Vehicle shipments jumped 120% to 1.36 million in first nine months of the year, industry group says

Click here to read more of the latest news.

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