China’s benchmark Shanghai Composite Index (000001.SH) gained 0.41% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.97%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 4.09% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.38%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: How a Perfect Storm Created a Global Chip Shortage
Pandemic, trade tensions and miscalculations may lead to a multibillion-dollar reshaping of the global semiconductor industry with sweeping implications
· China Reports ‘Very Low’ Rate of Severe Adverse Reaction to Vaccines
Health authorities observe 11.86 cases of side effects per 100,000 Covid-19 shots
· Weekend Long Read: How to Break the Deadlock Over China’s Local Debt
The central government wants to usher in a market- and law-based default process, but local authorities don’t want it in their backyards
· Southern China Faces Power Shortages and Factory Cutbacks
Hot weather, lower rivers and industrial recovery result in more demand for electricity than generators can supply, adding new pressure on the economy
National Energy Administration looks into rising solar module prices; Sinopec opens its first gas storage unit in Northeast China; Sichuan Energy Industry Investment’s chief sacked for bribery
· Former CSRC Inspection Leader Faces Prosecution for Corruption
Mao Bihua, who allegedly collected a ‘huge amount’ of bribes including Moutai and $1.2 million of gold, becomes third fallen securities commission enforcement official
· China’s 5G, Data Center Boom Poses Threats to Climate, Greenpeace Says
It’s an addiction to fossil fuels, Greenpeace finds, predicting that power used by data centers and 5G stations will soar 289% by 2035
· Shanghai Doctor Accused of Malpractice Hit With Fine and Suspension
Lu Wei handed a six-month suspension and 30,000 yuan fine for failure to fill medical records according to rules and not fully informing patients about their treatment
· The 10 Hottest International Stories China Is Reading – May 28
A mass shooting in San Jose, Xiaomi’s off the U.S. sanctions list, and Russian fish egg fertilizer
· The 10 Domestic Stories Chinese Readers Can't Stop Following – May 28
21 runners killed during mountain race in northwestern province of Gansu; Indian variant of Covid-19 found in Guangzhou; Beijing willing to arrange for vaccines to be sent to Taiwan
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This article was generated by Caixin Automation.
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