China’s benchmark Shanghai Composite Index (000001.SH) gained 0.54% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.21%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 1.07% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.62%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· SGX: China-related SPACs Interested in Singapore Listing
Chinese companies, investors eye Singapore listing; Singapore exchange launched SPACs to revive local IPO market
· Energy Insider: CNOOC seeks $5.4 Billion Shanghai listing
Local governments in China’s Jilin province work to boost energy supply and head off massive outages; cement prices top record highs as plants shut down; China now has 6.7 million NEVs
· Opinion: Supply/Demand Mismatch, Price Caps to Blame for China’s Power Shortage
Power generators are being squeezed by low prices, capacity constraints as demand far outstrips supply; conservation and emissions measures add to problem are but not to blame
· Weak Guangzhou Land Auctions Show Developers Pulling Back
In latest Guangzhou land sale, state-owned developers apparently stepped in to support the market; fewer than half the offered properties were sold, and fewer still topped their offering prices
· Fatal E-Bike Explosion Highlights Lack of Safe Charging Options
Deadly apartment fire sparked by charging lithium battery puts government and riders of China’s 300 million electric bikes in regulatory bind
· Shares Linked to Crypto Exchange Huobi Slump as Mainland Users Face Expulsion
In response to China’s latest virtual currency bans, company stops accepting fresh sign-ups and promises to close existing China-based accounts by year-end
· China Awards Wholly Owned Mutual Fund License to Third Foreign Firm
Neuberger Berman follows Blackrock and Fidelity International into a market that saw funds raise more than 3 trillion yuan last year
Central bank deputy governor pushes for domestic pilot program to be expanded and more green bonds to be issued on the global market
· In Depth: Local Governments Take Control of Evergrande’s Revenue From Home Presales
The change forces the heavily indebted developer to prioritize finishing construction on homes it has already sold over paying back its creditors
· Heavy Rains in China Trigger Emergency Flood Response
Authorities dispatch working groups to several regions including Henan and Shaanxi to assist with relief efforts
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This article was generated by Caixin Automation.
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