Nov 23, 2021 03:03 PM

Shanghai Composite Index Rose 0.2% on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.2% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.37%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.25% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.37%.

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

· Energy Insider: Five Chinese Citizens Kidnapped in Congo

Inner Mongolia probe of coal industry recovers $8.2 billion; Chinese EV makers try to jump-start used-car market; a solar wafer price war may break out

· China Fines Two Livestreamers $14.6 Million for Tax Evasion

Authorities use big data to catch Zhu Chenhui and Lin Shanshan using a tax dodge commonly deployed by high-net-worth individuals like actress Fan Bingbing

· Bilibili Acquires Online Payment License in $18.5 Million Deal

Taking a 65.5% stake in Zhejiang Yongyi Payment, Chinese video platform joins the rush by tech companies into the e-payment business

· Fund Exec Linked to China’s Chip Self-Sufficiency Drive Probed for Graft

Gao Songtao served as vice president of state-backed private equity fund Sino IC Capital, the sole manager of a fund established to help grow China’s semiconductor industry

· China Could Sever Ties With Lithuania Over Taiwan Issue, Experts Warn

Beijing on Sunday downgraded its diplomatic relationship with Vilnius to the lowest possible level

· From Stravinsky to Tan Dun, an Everlasting Musical Dialogue Between East and West

24th Beijing Music Festival concludes with an evening of music commemorating old masters and celebrating the new

· Shares of Evergrande’s Electric Car Unit Jump 11% on Fundraising Plan

Cash-strapped Evergrande New Energy Vehicle announced $347 million stock sale as it rushes to roll out mass production of its first model

· China Elevates Ties With ASEAN in Boost to Backyard Stability

Since 2016, Beijing has sought to contain regional risks, including those related to disputes with several ASEAN members over territorial claims in the South China Sea

· Ping An’s Fintech Unit Posts Widened Loss Even as Revenues Rise

The New-York listed OneConnect lost $42 million in the third quarter amid bribery allegations that the company had denied

· Five Chinese Nationals Kidnapped in the Congo

The victims were seized after ‘unknown’ gunmen attacked a mining company in the country’s east, Chinese embassy says

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