China’s benchmark Shanghai Composite Index (000001.SH) gained 1.69% on Friday, while the Shenzhen Component Index (399001.SZ) rose 2.12%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) ended nearly flat for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 2.04%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Outlines Carbon Peaking Roadmap for Building Materials
Industry accounting for 13.2% of China’s carbon dioxide emissions is the first with a specific plan for meeting climate goals
· China Revises Rules to Boost Contributions to State Insurance Bailout Fund
On top of mandatory rates, insurance companies will have to pay fees related to their risk levels as authorities beef up the $25.2 billion fund
· Biden and Xi to Meet at G-20 Summit in Indonesia, White House Says
Chinese and U.S. presidents’ first face-to-face talks since Biden took office are expected to address hot-button Taiwan issue and global matters, the White House says
· China to Expand Digital Health Code Use for Unified National Platform
The platform will expand on the use of digital health codes, which are not the same as the digital QR codes that track people’s Covid-related test records and travel history, an expert says
· Germany Blocks Chinese Acquisition of Auto Chip Fab
A subsidiary of China-based semiconductor manufacturer Sai Microelectronics was set to buy the production line for $85 million
· China’s No. 1 Nickel Trader Gets Green Light for Hong Kong Listing
Lygend says it will use the IPO proceeds to boost production of nickel products, as the company deepens its footprint in manufacturing
· In Depth: The Roots of China’s Trouble Protecting Plant Variety Rights
Difficulties with tracing infringement and assessing damages, along with a widespread lack of awareness, have plagued breeders of popular types of produce
· Guangzhou Suspends Most Schools as Covid-19 Outbreak Worsens
In-person teaching will pause in eight of the South China metropolis’s 11 districts
· More Chinese Labs Run Out of Cash as Government Payments Fall Behind
Covid testing supplier in Xuchang is the latest to suspend services temporarily over unpaid bills amid repeated rounds of mass screening for pandemic control
· Country Garden Pulls Out of S&P Rating Following Downgrade
Property development giant — which hasn’t defaulted on debt — blasts S&P over score that it says doesn’t fairly reflect its true credit status
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This article was generated by Caixin Automation.
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