China’s benchmark Shanghai Composite Index (000001.SH) lost 0.92% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.99%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.06% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.19%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· PBOC Official Tapped to Be Next IMF Deputy Managing Director
Li Bo’s appointment will fill the vacancy that will be left by another former deputy governor of the Chinese central bank
Chengdu opens a second airport; wind power station in Gansu starts spinning electricity; coal prices are set to drop in July
· BeiGene Cleared for $31 Billion STAR Market IPO
Eleven-year-old cancer-focused Chinese biotech turned its first profit this year after three of its drugs made China’s National Reimbursement Drug List
· CapitaLand Sells Controlling Stakes in Six Raffles City Projects to Ping An
Singapore real estate group accepts less than $5.1 billion for portfolio valued at $7.24 billion as part of its strategy of unloading mature properties
· China, EU Set to Agree on Green Finance Definitions by Year-End, Official Says
China’s recent move to update its green bond classification scheme helps align country with stricter global standards
· Ex-Chair of State-Run Interbank Clearing Platform Expelled From Communist Party for Graft
Xu Zhen violated party discipline, formed cliques and factions and undermined the Shanghai Clearing House’s political environment, watchdog says
The 10 most-read domestic stories on Chinese social media also include the likely promotion of Hong Kong’s police chief and the lychee harvest in Guangdong
· China’s Chip Investment Moves Ahead Full Throttle
New report says 164 Chinese semiconductor companies raised $6.2 billion in the first five months of 2021, already meeting 2019’s full-year total
· Delta Variant Forces Guangdong to Expand Who Counts as a ‘Close Contact,’ Official Says
More than 160 local infections in the southern province over the past month have forced local authorities to conduct mass testing, impose lockdowns and issue ‘stay-at-home-orders’ in certain areas
· Nike CEO Says Brand Is ‘of China and for China,’ Colombia’s President Attacked, U.S. UFO Report
Social media users are following Ukraine’s withdrawal from a Canada-led joint statement on Xinjiang at the U.N. Human Rights Council, and anti-lockdown protests in London
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