Shanghai Composite Index Rose 0.67% on Friday

By Caixin Automation

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.67% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.73%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.31% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) ended nearly flat.

Below is a rundown of the top China business and finance stories, plus other news for the day:

· China Provinces to Supply More Coal to Ease Power Shortage

Commitments follow power outages and rationing in several provinces

· New Bidders Join Race for Stakes in Securities Firm Linked to Tomorrow Holding

China Chengtong and Dongxing to bid for 98% stake in New Times Securities

· World Consumer Price Inflation to Retreat to Pre-Pandemic Level by Mid-2022, IMF says

But price outlook is uncertain because of changes in markets for labor, housing and food

· Investors Offload Chinese Developers’ Dollar Bonds Amid Rising Anxiety About Defaults

Yields surge after Fantasia Holdings becomes the latest real estate firm to miss a bond payment in the wake of the Evergrande crisis

· Baidu-Backed EV-Maker WM Motor Raises $300 Million Despite String of Setbacks

Two Hong Kong-listed companies led the loss-making firm’s recent funding round

· Hong Kong Back On ‘Right Track’ With National Security Law, Carrie Lam Says

City’s chief executive outlines plans for housing development and attracting global talent in annual policy address

· China’s Shrinking Labor Investment Drives Down Caixin New Economy Index

Decline undercuts uptick in capital inputs as old economy weighs

· Top Chinese Diplomat Meets U.S. National Security Advisor in Switzerland

In the latest sign of improved communication between Beijing and Washington, top officials meet in Switzerland

· Hong Kong Plans Massive Development to Build Homes and Promote IT Sector

New ‘Northern Metropolis’ will house up to 2.5 million people and create 650,000 jobs, Lam says

· Developer Fantasia Holdings Defaults on $206 Million Note

Failure to make payment adds to concerns on property sector as Evergrande struggles with liquidity

Click here to read more of the latest news.

This article was generated by Caixin Automation.

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