China’s benchmark Shanghai Composite Index (000001.SH) lost 0.47% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.41%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 2.21% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.46%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s Shanshan to Invest $1.2 Billion in Lithium Battery Project
Company plans facility in Sichuan with an annual output of 200,000 tons of lithium-ion battery anode materials
· Energy Insider: China’s Steelmakers Report 220% First-Half Profit Growth
Lithium giants crank up production capacity as prices soar amid tight supply and surging demand; China’s DeLong Holdings may dig for iron in West Africa
· Credit of Shengjing Bank and Seven Others Downgraded
Close ties to debt-ridden Evergrande raise risks for Shengjing Bank as Lianhe Credit Rating cites increases in nonperforming loans
· Yongcheng Coal and Executives Fined $820,000 for Fraud
CSRC finds that Henan state-owned enterprise whose default shook China’s bond market inflated its accounts by $13.3 billion
· Rape Detention Could Put Pop Star Kris Wu on Hook for Millions Over Ruined Endorsement Deals
The pop star could find himself having to pay back some or all of the fortune he earned from contracts with Bulgari, Louis Vuitton and Tencent
· After Market Turmoil, China Securities Regulator Pledges to Make IPO Policies More Predictable
Government assurances come after recent actions against U.S.-listed Chinese companies spooked investors, leading to massive sell-offs
Amazon fined $887 million over European privacy violations and Chinese expert warns against mixing and matching of vaccines
· China Needs National Child Welfare Law to Reduce Burden of Childrearing, Experts Say
Nearly a third of some 100,000 respondents in a yet-to-be-published survey — 30.7% — said they deferred having children because they’re worried about the financial pressures of raising them
· NetEase Music Streaming Arm Wins Approval for Hong Kong IPO
Cloud Village said it expects to continue to report losses through 2023 despite ongoing growth in its revenue and user base as it battles to gain share against Tencent Music
· China’s Capital to Impose Travel Restrictions as New Covid Outbreak Spreads to 15 Provinces
Inbound flights, trains and long-distance buses will be suspended from areas where infections have been found, as Beijing reports five new confirmed cases
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
