China’s benchmark Shanghai Composite Index (000001.SH) closed nearly flat on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.39%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) ended nearly flat for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.59%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Southern China Faces Tight Power Supply Amid Hot Weather
Demand in Guangdong surges just as supply from Yunnan hydropower plants dries up following low precipitation
· BRICS-Backed New Development Bank Issues Record $1.2 Billion of Panda Bonds
Yuan-denominated borrowings on China bond market will support international lender’s infrastructure and sustainable development projects
· China Moves Forward With Plan for Shanghai International Reinsurance Market
Financial regulatory agency issues detailed implementation rules for reinsurance exchange to be built in Lingang New Area
· In Depth: China’s Proposed New Curbs on Private Securities Funds Spark Controversy
Draft rules tightening control of fundraising, investment and management have triggered concerns they will constrain securities funds’ freedom to execute their investment strategies
· Commentary: What to Expect From Elon Musk’s Visit to China
Speculation is rife that the Tesla CEO could announce plans in connection with the launch of a revamped version of the Model 3 or the testing of its Full Self-Driving system in the country
· Meeting Musk, Chinese Foreign Minister Stresses Benefits of ‘Healthy’ U.S. Relations
Qin Gang told the Tesla CEO on Tuesday that China is committed to providing a market-oriented and law-based business environment for foreign enterprises
· China Denounces Washington’s Fentanyl Sanctions
Chinese Embassy says the measures have ‘eroded the foundation’ of counter-narcotics cooperation between the two countries
· Wanda May Offload Malls and Hotels Amid Fading HK Share Sale Prospects
Embattled Chinese real estate giant needs to increase liquidity as planned Zhuhai Wanda flotation appears uncertain
· Xi Calls China’s National Security Situation Complex and Grave
Chinese president tells national security commission that threats have increased and China should accelerate modernization of its systems and capabilities
· China’s Services Sector Continues to Rebound Faster Than Industrial Sector
Profits of state-owned enterprises diverge sharply over the year’s first four months, based on data from the NBS and the Finance Ministry
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