China’s benchmark Shanghai Composite Index (000001.SH) lost 0.18% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.08%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.65% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.59%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· WM Revival Hopes Dashed as Investor Abandons $2.02 Billion Rescue
Troubled Chinese EV startup was once seen as a rival of Nio and XPeng and was valued at $5.7 billion with backing from Baidu and Tencent
· Beijing District Scraps Price Limits on Pre-Owned Homes
Haidian district, known for prestigious schools, joins a parade of localities dropping price controls to bolster housing sales
· Analysis: G20 Inclusion Will Bolster African Union’s Global Standing
The addition will allow the 55-member bloc to better speak with ‘one voice’ on global governance issues, official and media reports say
· Chinese Premier Meets Biden at G20
Li Qiang and the U.S. president discussed strengthening ties on the sidelines of the gathering in New Delhi over the weekend
· U.K. Welcomes China Investment in ‘Key Areas,’ Trade Minister Says
Dominic Johnson told Caixin in an exclusive interview that collaboration was particularly sought after in renewable energy and infrastructure
· China Criminal Code Amendments Part of Five-Year Legislative Plan
The 130-item plan includes revisions to the existing Criminal Law and drafts of new economic laws related to financial stability and consumption tax
· Weekend Long Read: How Huawei Picks and Develops Talent
The tech giant focuses on recruiting exceptional technical specialists and then leaves them with room to grow, company founder Ren Zhengfei says
· Guangzhou Scraps Controversial Price Limits on Housing Projects
Moving to spur the ailing property market, Southern China metropolis quietly drops a seven-year-old policy
· Iron Futures Weaken After Regulators Issue Price Warning
Following a 20% surge in black metal futures, NDRC and CSRC call traders on the carpet and tell them to cool it
· In Depth: Canceled Contracts Upset Chinese Drugmakers’ Overseas Push
China became a net exporter of innovative treatments for the first time in the first half of the year, but with more ‘out-licensing’ agreements come more cancellations
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This article was generated by Caixin Automation.
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