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Shanghai Composite Index Ended Nearly Flat on Tuesday

China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.26%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.87% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.44%.

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

· China’s Top Graft Buster Probes State-Owned Shanghai Industrial President Zhou Jun

Zhou's investigation comes after corruption probe on several current and former executives at Shanghai state0owned firms since the summer

· China Drafts List of Developers Eligible for Funding, Asks Banks to Boost Real Estate Lending

Chinese regulators tell lenders to meet minimum thresholds for real estate lending; banks pressed to lend to private developers along with state-owned firms; housing sales continue to slide

· Mastercard Gets Go-Ahead to Get Into China’s Trillion-Dollar Bank Card Clearing Business

The approval makes a Chinese joint venture of the U.S. credit card processing giant the second foreign-funded company to be granted such a clearing license in the country

· Chinese Automaker GAC Aims to Use Solid-State Battery by 2026

The technology holds the promise for a longer lifespan, increased range and faster charging times than conventional lithium-ion cells

· Cover Story: Rethinking China’s Property Market Meltdown

As top performers Gemdale and Vanke show signs of teetering, calls are growing for a fresh approach, with construction of public housing touted as a panacea

· Opinion: Xi-Biden Summit Sets New Direction for China-U.S. Relations

The promotion of stable and predictable patterns of interaction between the nations holds greater significance than immediate progress in specific areas

· Ex-VP of China Development Bank Booted From Party for ‘Rampant Abuse’ of Power

A six-month anti-graft probe found that Zhou Qingyu had accepted gifts and money on a 'large scale' and intervened in the issuance of loans at nation’s largest policy lender

· U.S. Removes China Security Ministry Institute From Export Blacklist

Chinese Ministry of Public Security’s Institute of Forensic Science was placed on the list in May 2020 and its removal comes just a day after summit between President Xi Jinping and Joe Biden

· Weekend Long Read: Everything You Need to Know About ESG in China

This year’s environmental, social, and governance space has been characterized by a focus on the ‘dual carbon’ goals, an emphasis on disclosure and product growth, and the insurance industry going green

· China Tells Top Financial Institutions to Bolster the Property Market

Central bank, financial regulators and securities commission issue marching orders to China’s biggest banks, asset managers, brokerages and stock exchanges

Click here to read more of the latest news.

This article was generated by Caixin Automation.

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