Latest News:  
Beijing   Sunny    34 / 23 ℃  City Forecast

Home>>China Business

Local stocks mixed, SOE reform plan gives Shanghai shares a lift

By Yu Xi (Global Times)

08:32, July 20, 2012

Chinese markets were at odds Thursday after a Shanghai-specific policy move helped stocks for companies based in the city end the day on a high note.

The Shanghai Composite Index finished trading at 2,184.84, up 15.74 points, or 0.73 percent on the day. Meanwhile, the Shenzhen Component Index closed at 9,509.49 after giving up 4.68 points, or 0.05 percent.

Both markets started trading lower Thursday but quickly advanced throughout much of morning trading as the heavily weighted insurance and securities sectors recorded strong gains. It was a different story though in the afternoon, which saw both indices slump after their earlier rallies thanks to declines in brewing, coal and steel stocks.

The State-owned Assets Supervision and Administration Commission of the Shanghai municipal government announced that local authorities would speed up reforms of State-owned enterprises (SOEs) in the city through assets securitization and reorganization in the third quarter of this year, according to a report published Thursday on, the Shanghai Securities News' online portal.

Shanghai-listed Orient International Enterprise and Shanghai Kaichuang Marine International Co both rose by the daily limit to close at 5.98 yuan ($0.94) and 12.23 yuan respectively.


Leave your comment0 comments

  1. Name


Selections for you

  1. Elite anti-terror squad in tactical training

  2. NATO oil tankers destroyed in N. Afghanistan

  3. China faces a bumpy road to achieve stable growth

  4. HK's book fair opens with record high exhibitors

  5. Alien-like marine life in Arctic Ocean

  6. Scientists find evidence for exoplanet smaller than Earth

Most Popular


  1. Ivy League not gold standard for teachers
  2. No need to panic about slowdown in China
  3. Commentary: Health of stock market
  4. S. China Sea tensions stirred up with outside help
  5. Elites threaten favorable Sino-US attitudes
  6. Europe's chances of economic recovery lie in unity
  7. Fragile peace barely holds in tense Kashmir
  8. Tokyo's islands stance harmful to ties
  9. Experts doubt legality of online auction
  10. Searching for the right professionals

What's happening in China

Fishing vessels arrive at Zhubi Reef of South China Sea

  1. China moves to curb academic degree fraud
  2. Authorities explain huge cost of highway signs
  3. 21,000 families not eligible for benefit
  4. Passenger blacklisted for flight delay complaints
  5. 2.3 million affected in central China rainstorms

China Features

  1. Famous instant noodle hit by quality scandal
  2. No abnormalities found in Roche investigations
  3. Auchan blacklisted for selling unqualified foods
  4. Robust water contains excessive level of bacteria
  5. Why is TCM worth of commendation?

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai