China’s benchmark Shanghai Composite Index (000001.SH) gained 0.15% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.76%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.25% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.68%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China’s EV Battery Industry Expansion Tests Transport Capacity
May production surges 57.4% year-on-year as experts see need for more-advanced transportation technology to keep up with demand
· Nio Ends Holdout in China’s Auto Price War
EV maker slashes bases prices $4,200 and pulls the plug on its free battery-swap service for car buyers
Engagement in all pillars is essential given both countries are the world’s two largest economies, says Wendy Cutler, an ex-Acting Deputy U.S. Trade Representative, at Caixin’s Asia New Vision Forum in Singapore
· Update: China, U.S. Must Step Back From Confrontation, Singapore Deputy Prime Minister Says
At Caixin’s inaugural Asia New Vision Forum, Heng Swee Keat calls for the economic powerhouses to avoid conflict, as the international community does not want to be forced to choose sides
· Promoting More China-U.S. Interdependence Is the Best Way to Guarantee Peace, Summers Says
The two countries can work on the climate, structuring of multilateral development banks, and strengthening of global capital markets, former U.S. Treasury Secretary says at the Asia New Vision Forum
· Asia Is Key to Easing Sino-U.S. Tensions, Says Asia Society Co-Chair
The region needs to actively want to ‘define the future’ and no longer just be recipients of ‘the wisdom of others,’ says John Thornton at Caixin’s Asia New Vision Forum
· Cover Story: China Changes Pricing Model for World’s Largest Power Grid
New electricity rates will treat all businesses as favorably as large industrial users
· EV-Battery Giant CATL Teams Up With Thai Automaker
The Chinese firm will supply Arun Plus with the technology and production line for manufacturing cell-to-pack batteries in Thailand
· China’s International Air Travel Recovery Remains Patchy
While domestic flight services returned to pre-pandemic levels, international flights in May were just 37.9% of the 2019 total
· Ex-PBOC Deputy Governor Kicked Out of Communist Party
Fan Yifei, arrested last November by graft busters, accused of accepting a ‘huge amount’ of bribes and abusing power ‘over a long period of time’
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This article was generated by Caixin Automation.
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