Caixin
Oct 21, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.22% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.22% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.05%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.81% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.17%.

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

· Vice Premier Liu He Declares China Property Market Risks Manageable

Liu seconds central bankers’ reassurance to investors and homeowners even as housing sales and values slide amid the Evergrande debt crisis

· Baoneng Slaps ‘For Sale’ Sign on Assets to Raise $15.6 Billion

Conglomerate struggling to shrink a $31 billion debt mountain tries to peddle office building, logistics park, land plots and financial holdings

· Evergrande’s $2.6 Billion Property Management Sale Falls Through

Debt-laden property giant drops talks with Hopson Development in setback for its struggle to manage a massive debt crisis

· Top Financial Regulator Says China’s Internet Giants Will Fix More Problems by Year End

Guo Shuqing says much progress has been made, but fintech platforms still have work to do

· As Christmas Nears, China's Biggest Shipper Says There's No End in Sight for Supply Chain Crisis

Top executive at China Cosco Shipping says there’s no short-term solution as Covid-related restrictions cause long queues off key ports in the U.S. as peak seasonal demand looms

· China Wants Paris Agreement Issues to Be Wrapped Up at Upcoming U.N. Climate Summit

The COP26 conference should focus on ‘implementation,’ with every country encouraged to meet their objectives with specific actions, the environmental ministry says

· China’s Top Planner May Intervene in Market to Tackle ‘Irrational’ Coal Price Increases

Thermal coal futures fell by their daily limit in China after the warning, ending a surge that saw prices more than double since the beginning of September

· Seven Provinces Get New Communist Party Chiefs Ahead of National Congress

The latest top regional leaders’ appointments were announced at provincial party meetings Tuesday

· China Moves to Close Loophole That Lets Kids Beat Online Gaming Limits

Cyberspace regulator says it will strictly enforce real-name registration and crack down on vendors that allow minors to play more than the three hours allowed

· TikTok Co-Founder Is China’s Richest Internet Tycoon, Forbes Says

Zhang Yiming is now the 20th richest person on the planet

Click here to read more of the latest news.

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