Caixin
Aug 02, 2022 03:03 PM
FINANCE

Shanghai Composite Index Fell 2.26% on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 2.26% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 2.37%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.48% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 2.02%.

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

· Alibaba Added to U.S. List of Chinese Stocks Facing Expulsion

SEC says American oversight agency couldn’t fully review e-commerce giant’s fiscal 2022 books as negotiators appear deadlocked

· China Threatens ‘Strong and Resolute Countermeasures’ to Pelosi Taiwan Visit

As top U.S. lawmaker plans overnight stop on Asia tour, China’s military declares it’s ‘ready to battle’ as Foreign Ministry vows ‘serious consequence’

· China’s Home Sales Revival Fizzles Despite Efforts to Boost Demand

Sales of 100 of the country’s top property developers fell more than 28% from the previous month in July, following back-to-back monthly gains

· China’s New Green Bond Standards Aim to Curb ‘Greenwashing’

The new guidelines could address the discrepancy in how the bonds are defined at home and abroad

· China’s Nio to Open First Overseas Plant in Hungary

The EV-maker is building a facility for producing power charging and battery swap stations

· Exclusive: Chinese Insurer PICC Set to Promote Tech Head to Vice President, Sources Say

Zhang Jinhai, who was recently appointed to the state-owned insurer’s Communist Party committee, is currently chief of the company’s tech division

· Cover Story: Why Southeast Asia Is a Battleground in the Global China-U.S. Rivalry

Vast, diverse region is strategically placed and promises dynamic growth, but it also may offer opportunities for superpower cooperation

· China to Extend Tax Exemption on Electric Vehicle Purchases for One Year

The State Council said the exemption on the 10% tax will continue through to the end of 2023 in an abrupt U-turn likely to provide an added boon to the industry

· Top Stories of the Month: Why China Still Doesn’t Have an mRNA Shot

In a race to develop advanced Covid inoculations, Chinese vaccine-makers lack technical expertise, ingredients, production equipment and delivery system

· Weekend Long Read: As China Reforms Its Financial System, Pragmatism Should Prevail

To fit the changing economy, the sector must do more to boost innovation and properly implement regulation, writes Huang Yiping

Click here to read more of the latest news.

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