China’s benchmark Shanghai Composite Index (000001.SH) gained 0.17% on Monday, while the Shenzhen Component Index (399001.SZ) fell 0.09%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.6% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.45%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: The Herculean Task of Bailing Out Huarong
As the scandal-plagued bad asset manager reports $15.9 billion of red ink for 2020, it may have to raise almost that much from investors and asset sales
· Internet Regulator Vows to Scrub Out Illegally Published Financial Content
Cyberspace Administration of China has launched a two-month campaign to scour information considered damaging to the economy from online platforms and social media accounts
· Caixin ESG Biweekly: No More ’Campaign-Style’ Carbon Reduction Measures
China is expected to cool some aggressive steps to curb emissions from heavy industry as it tries to balance achieving its climate goals with keeping the economy stable
Following decades of rapid progress, the focus is changing from growth rate to social security, efficiency to equity and capital to labor
· Former Chinese Finance Minister Dies After House Fire, Sources Say
Jin Renqing was confirmed dead Saturday from injuries he suffered in the blaze, the cause of which remains unclear
· Weekend Long Read: Talking Out the Implications of China’s Great Demographic Reversal
A discussion between two central government officials and the authors of a new book on the domestic economy offers a glimpse into how officials view the country’s demographic challenges
· Energy Insider: China and Saudi Arabia to Build Mega Petrochemical Complex
NDRC accelerates release of advanced coal production capacity; China to base new shipbuilding giant in Shanghai; PetroChina swings to profit on strong oil prices
· PBOC Puts Financial Fraud Label on Promoting Guaranteed Principal and High Returns
For financial literacy month in September, central bank vows to focus on China’s rapidly expanding senior population
· China’s Education Ministry Bans Vaccination Mandate for Students
Even as authorities push mass inoculations and the total reaches 889 million people, officials stick to regulations making shots strictly voluntary
· Fosun Pharma Posts 45% Jump in Profits on Strong Cancer Drug Sales
Company still waiting for approval to manufacture and sell German-developed Covid vaccine to Chinese mainland
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This article was generated by Caixin Automation.
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