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Shanghai Composite Index Fell 0.06% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.06% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.49%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.59% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.51%.

Below is a rundown of the top China business and finance stories, plus other news for the day:

· Weekly Must-Read: Suppliers of Delinquent Developers Complain They Can’t Pay Their Bill

Hundreds of landscapers, construction companies and other suppliers to China’s real estate industry say builders still owe them money

· China Banking Regulator Pushes Smaller Banks to Dispose of Bad Loans

CBIRC reports on continuing efforts to wring out risks associated with shadow banking and vows to cast a jaundiced eye on risky financial innovation

· Hong Kong Allows Home Quarantine for Patients With Latest Covid Versions

Authorities throw in the towel on centralized quarantine as it’s ‘not particularly effective’ in slowing the spread of highly infectious BA.4 and BA.5 variants

· Indonesian President Joko Widodo to Visit China Next Week

First state visit by a foreign leader in two years will involve in-depth exchanges on bilateral relations and international issues

· China Steps Up Approval of Coal Mining Projects to Secure Supply

Regulators clear 20 new projects to add 125 million tons of annual capacity as government shoots for 300 million-ton expansion

· Chinese Envoy Accuses U.S. of ‘Hollowing Out’ One-China Principle

China’s Ambassador to the U.S. Qin Gang reiterates China’s goal of a ‘peaceful reunification’ of Taiwan at a security forum in Colorado

· Tencent’s NFT Unit to Lay Off Staff as Regulators Step Up Scrutiny

Huanhe, which was set up less than a year ago, is also adjusting its strategy to avoid regulatory risks, sources told Caixin

· Analysis: To Keep Risks at Bay, China, U.S. Resort to Frequent High-Profile Dialogues

Since early June, there have been six meetings of senior officials, showing willingness to rebuild lines of communication and manage frosty bilateral ties

· Shanghai Appoints Acting Top Prosecutor After Graft Probe Topples Previous Chief

The announcement follows Chen Yong’s elevation to the city procuratorate’s top Communist Party job last week

· In Depth: How Saving Poyang Lake Will Alter a Complex Ecosystem

Structure to keep water from draining into the Yangtze River during the winter would affect 1 million migratory birds, endangered finless dolphins, fish and plant life

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Read More: Shanghai Composite Index Fell 0.06% on Friday

2022-07-22 02:14:11

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