Shanghai Composite Index Ended Nearly Flat on Monday

China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Monday, while the Shenzhen Component Index (399001.SZ) rose 1.27%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.3% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.99%.

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

· Cover Story: China’s Climate Envoy Says Nations Must Deliver on Their Commitments (Part 1)

Xie Zhenhua recently sat down for an interview with Caixin on the sidelines of the Ministerial on Climate Action in Stockholm

· Tiny Fraction of Shanghai’s Hospitalized Covid Patients Develop Severe Illness, Study Shows

Less than 0.1% of patients with moderate symptoms became gravely ill, according to report by leading Covid expert Zhang Wenhong

· Weekend Long Read: Chinese History Offers Lessons on Sustaining Charitable Giving

The rise and fall of private philanthropy in China has shown that ‘incentive compatibility’ is the key to understanding social innovation and how to run ‘business for good'

· In Depth: Trouble at Crypto Hedge Fund Sparks Contagion Fears

Liquidity woes at Three Arrows Capital could create ripple effect in the DeFi industry, analysts say

· Sinopec Shanghai Plant Blaze Leaves One Dead, One Injured

Videos circulating on social media showed fire engulfing the plant, which could be seen a few kilometers away, while witnesses spoke of ear-splitting explosions with huge plumes of smoke billowing into the sky

· Opinion: To Restore Public Trust, a Public Apology is Responsible Governance

China does not have a tradition of public apologies from the government, but there’s been breakthroughs in recent years

· Shanghai Air Traffic Recovery Misses Expectations

Even as local and rail transit rebounded, flights and passenger totals through one of China’s biggest travel hubs were just a trickle in May

· Minsheng Bank Wins Final Clearance for New Wealth Management Unit

Long-delayed regulatory approval leaves just three of China’s 18 big banks awaiting a green light to open such operations

· In Depth: New Solar Cell Materials Could Brighten Profit Prospects — One Day

Companies under pressure from shrinking subsidies and increasing competition are throwing money at technology which could eventually boost the panels’ efficiency

· Graft Busters to Investigate After More Reports of Health Code App Abuses in Henan

Property developer protesters say their health codes turned red even though they hadn’t traveled to Covid risk areas

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