China National Pharmaceutical Group’s (Sinopharm) subsidiary, China National Biotec Group Company (CNBG), expects to market its COVID-19 vaccine as early as the end of this year as it begins its phase II clinical trials on two vaccines. The company will fully disinfect its COVID-19 vaccine manufacturing facilities in Beijing in preparation for production. The annual output of the vaccines expects to be 100m to 120m doses after mass production. In the finance sector, Shanghai Stock Exchange (SSE) reportedly is mulling piloting a T+0 trade settlement system on the STAR Market. Such a system allows investors to buy and then sell the acquired shares on the same day. This move is designed to curb financial risks for investors and improve market liquidity. A-share markets lifted today. SHCOMP gained 2.21% to 2,915.43. SICOM grew 3.31% to 11,102.15 and CSI 300 increased 2.70% to 3,971.34. ChiNext Price Index climbed 3.43% to 2,158.22. The Hang Seng Index surged 3.36% today to 23,732.52.
In other financial news, China's Ministry of Commerce (MOFCOM) reached a memorandum of understanding (MoU) with China Development Bank (CDB) on the construction and upgrading of national economic and technological development zones. CDB will issue loans worth at least RMB100bn over the next three years to support projects to improve the business environment in these zones. In the technology sector, four US Senators are urging the country’s Federal Trade Commission (FTC) to investigate Tiktok's alleged children's privacy violation. They claimed TikTok failed to obtain parents’ consent for its collection of data related to children, fully remove kid-created content from individuals under the age of 13, and so on.