China’s benchmark Shanghai Composite Index (000001.SH) gained 0.76% on Monday, while the Shenzhen Component Index (399001.SZ) rose 0.72%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.89% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.64%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: Blue Sky, Please Send Help!
Volunteer civilian rescue teams join in Henan flood rescues after proliferating across China inspired by the 2008 Wenchuan earthquake
· China Wants Local Governments to Speed Up Annual Special Bond Borrowing
The directive from the Ministry of Finance could see cities and provinces issue the remaining 1.3 trillion yuan worth of special bond quota in the next five weeks
The telecoms giant prepares to unveil new premium SUV with Sokon as it seeks to diversify into new industries
· Weekly Must-Read: How China’s Housing Market Landed in the Deep Freeze
Even as the nation faces a housing shortage, the government is sticking with tough policies to prevent overheating, resulting in plunging house sales and values
· Joseph Lau Eats $18.3 Million Loss on Troubled Developer Kaisa Bonds
Billionaire’s Chinese Estates dumps securities at 35% discount, adding to losses racked up by bailing out of Evergrande shares
· Huawei’s HarmonyOS Powers 150 Million Devices
Equipment using software will top 200 million this year, making it the world’s fastest-growing new operating system, tech giant says
· Luckin Says Selling More Coffee for Higher Prices Helped Stem Losses
The scandal-dogged company said it managed to cut its losses by 86% to $33 million in the first half
· China’s Top Planner Seeks to Stamp Out Coal Producer Profiteering
NDRC meets with major miners as it seeks to curb soaring prices amid a dearth of the fuel that has caused power shortages across the country
· Beijing ‘Rejects’ Remarks on Covid-19 Origins, Taiwan by U.S. Nominee for Ambassador
Foreign ministry says comments, which also touched on Hong Kong and Xinjiang, ‘smack of Cold War zero-sum mentality and run counter to facts’
· Draft Law Seeks to Penalize Parents for Children’s Bad Behavior
China’s top legislature deliberates on final revisions to legislation that clarifies the responsibilities of the family in children’s education
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This article was generated by Caixin Automation.
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