China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.26%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.68% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.69%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Warns Stablecoins Are a Risk to Global Financial Systems
The digital currency is being used as payment for illegal transactions, central bank official says
· China’s Banking Regulator Says Internet Fees Are Driving up Financing Costs
Platforms are charging banks high fees for referral traffic, CBIRC director says
· Energy Insider: China to Kick off National Carbon Trading for Power Generation
China completes first release of copper, aluminum and zinc from national reserves in bid to cool metals prices
· South Korea Likely to Outpace China in New Shipbuilding Orders in Second Half, Report Says
Dwindling profits due to rising material costs put Chinese builders at a disadvantage, dampen enthusiasm for new business as competitors consolidate industry position
· Xpeng Shares Skid in Hong Kong Debut Amid China Tech Fallout
EV-maker’s stock falls more than 8% as investors fled from any company deemed to be at risk from a widening government crackdown
· Medical Data Firm LinkDoc Scrubs U.S. IPO as China Crackdown Continues
Deal’s underwriter confirms the listing has been suspended, the first to be nixed since a Chinese regulator announced probes into three freshly listed firms
Japan Declares Covid-19 Emergency, Tokyo Mulls Crayfish’s Alien Status, Giant Pandas No Longer Endangered
· New Chinese Tour Giant Takes Shape With Merger of Giants Caissa, UTour
Disclosure reveals that three board members nominated by HNA, a major Caissa shareholder, objected to the union, but to no avail
· Four Things to Know About China’s Latest Crackdown on Cryptocurrencies
Regulators have stepped up efforts to crush cryptocurrency trading and are now aiming to wipe out Bitcoin mining in the country
· China Likely to Reduce Banks’ Reserve Requirement Again
Authorities look to make more liquidity available to companies burdened by rising commodity prices
Click here to read more of the latest news.
This article was generated by Caixin Automation.
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