Caixin
Oct 22, 2021 03:03 PM
FINANCE

Shanghai Composite Index Fell 0.34% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.34% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.33%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.42% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.17%.

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

· Energy Insider: China Releases Potash Reserves to Stabilize Fertilizer Market

The government may intervene to curb coal prices; stockpiles of coal rebound at power plants; surge in natural gas prices squeezes Hebei urban supplier

· China’s October Mortgage Rates Decline for First Time This Year

Easing in borrowing costs may signal that the cooling housing market may soon rebound, industry insiders suggest

· Pianist Li Yundi Reportedly Detained on Prostitution Allegation

China’s ‘Prince of Piano’ apparently arrested by Beijing police, which referred to ‘black and white’ of a keyboard in Weibo post

· China Post, Singapore’s GLP Seek $3 Billion to Boost Logistics Infrastructure

Joint venture partners plan private equity fund to invest in a range of warehouse and operations centers around China

· China Pushes NEV-Makers to Take Stronger Ownership Over Quality Problems

Closer supervision of battery safety and software suppliers called for in new draft guidelines for the industry

· China’s Vice President Calls on Elite University Advisers to Promote an Open World Economy

Chaired by Apple CEO Tim Cook, the advisory board of Tsinghua University’s School of Management expressed willingness to contribute more to the country’s education and economic development

· Shenzhen Gives Huawei Sweet Deal on Plot of Industrial Land

Tech giant paid well below the price set by the local government for the over-500,000-square-meter parcel

· China Is Not Targeting the Private Economy With Its Regulatory Crackdown, Official Says

Xu Shanchang from the country’s top economic planning body notes that government measures are aimed at creating a fairer environment for all companies

· New Draft of Wetlands Protection Law Offers Role to China’s Grassroots Governments

Revised version also doubles the fine that would be levied on those who severely damage wetlands

· Central Bank Chief Says Evergrande Risks Are Controllable

Yi Gang, governor of the People’s Bank of China, says the risks posed by teetering real estate developer are isolated and systematic risks can be avoided

Click here to read more of the latest news.

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