Aug 03, 2022 03:03 PM

Shanghai Composite Index Fell 0.71% on Wednesday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.71% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.14%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.5% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 1.86%.

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

· China Sets Live-Fire Military Drills as Pelosi Lands in Taiwan

U.S. speaker of the House makes visit in defiance of repeated threats and warnings from Beijing, raising tensions

· Hong Kong Clears Sinovac Covid Shot for 6-Month-Olds

Surge of severe and fatal cases among young children spurs authorities to make Hong Kong the first city in Asia to lower the vaccination age to 6 months

· Two More Unigroup Executives Placed Under Investigation

Former Co-President Diao Shijing and subsidiary Chairman Li Luyuan taken away as former Chairman Zhao Weiguo was probed

· Analysis: Systemic Issues in China’s Fledgling Carbon Market Put Brakes on Expansion

Low profits and onerous reporting standards put stakeholders under pressure to ‘cook the books’

· Tech Insider: EV Subsidies Extended, Tsinghua Unigroup’s Ex-Chief Probed

Missfresh denies it’s going under, Nio to open Hungary plant

· Chinese Battery Giant CATL Hits Rival With Another Patent Lawsuit

The country’s largest EV battery-maker accuses competitor CALB of patent infringement and unfair competition

· Caixin Explains: How China’s Communist Party Elects Delegates to Its National Congress

The delegates will officially elect around 200 members of the party’s top decision-making body, the Central Committee, which will in turn formally name the seven-member Politburo Standing Committee — China’s top leaders

· Caixin’s New Economy Index Rises on Capital Investment Growth

High value-added industries such as biotech contributed 31.4% of China’s overall economic input activities in July

· Chinese Online Grocer Missfresh Denies It Is Liquidating

The company has suspended most of its staff and closed its core grocery delivery business after struggling to find fresh investment

· 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

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