China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.77%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.44% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.59%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Caixin Must-Read: FBI Agent Admits in Court to Falsely Accusing Ex-Professor of Spying for China
The agent said that he presented the university with a false document that labeled the Chinese American man as a PLA operative
Authorities deny radiation leak at Taishan nuclear plant; massive hydropower project in upper Yangtze River goes into operation; coal production rises in May
· TikTok Owner ByteDance’s 2020 Revenue More Than Doubles
World’s most valuable tech startup tells employees it had red ink for last year without explaining why 2019’s profits evaporated
· Chinese Bubble Tea Chain Nayuki Files $657 Million Hong Kong IPO
Proceeds would fund three-year expansion as China’s No. 2 tea purveyor plans to more than double its outlets by adding 650 new stores by next year
· Japanese Companies List Concerns About Doing Business in China
Chamber of commerce issues annual white paper, calling for less ambiguity and more predictability in China’s policies affecting foreign businesses
· China’s Plummeting Hog Prices Trigger New Mechanism That May Lead to State Buying
Nation’s top economic planner seeks to stabilize market by taking a more active role in building and dispensing government pork reserves to stem slide in prices
· Update: China Launches First Manned Mission to New Space Station
The Shenzhou-12 spacecraft took off Thursday morning, carrying three astronauts into orbit to crew the Tiangong station
· Shenzhou-12 Spacecraft Launches, Covid-19 Grounds Air China Flight, China’s Vaccine Tally
Guangdong reports four new local Covid-19 cases, government says three-child policy could boost fertility levels
· Chinese Vaccine Certificates Gain Traction Abroad; Singapore Shipwrecks; Delhi Lockdown Lifted
The 10 international stories popular on Chinese social media include a letter by the Dutch king’s daughter and a U.S. military assault in South Korea
· Shenzhen to Set Up Fund to Manage Carbon Credit Sales Income
Fund could help pave the way for a similar one linked to the nationwide carbon market that will be up and running this month
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This article was generated by Caixin Automation.
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