Latest News:  


Health-care reform boosts shares

By Ye Zhen   (Shanghai Daily)

09:18, February 21, 2013

SHANGHAI stocks gained yesterday for the first time in three days as health-care counters surged after the government said it will deepen reform of public medical services, while investors ignored an eighth straight month of decline in foreign direct investment.

The Shanghai Composite Index added 0.6 percent to close at 2,397.18 points.

China will further reform the marketing, sale, distribution and pricing of drugs and improve the management system of primary-level medical institutions to ensure basic health-care services to all residents by 2020, the State Council, China's Cabinet, said in a guideline.

"Reforms of the medical system will help boost demand for health-care services," said Zhang Jiuhui, analyst at Great Wall Securities.

"The favorable fundamentals of the medical industry also appeal to investors."

Kangmei Pharmaceutical Co rose 5.7 percent to 17.76 yuan (US$2.85). Shanghai Pharmaceuticals Holding Co soared 6.9 percent to 13.94 yuan. Guangzhou Pharmaceutical Co added 4.7 percent to 28.75 yuan.

China attracted US$9.27 billion of FDI in January, down 7.3 percent from a year earlier, the Ministry of Commerce said yesterday. The drop, accelerating from December's fall of 4.5 percent, shrank for the eighth consecutive month.

But Dariusz Kowalczyk, senior economist at Credit Agricole CIB, expects FDI to rebound this year and rise 4.5 percent for next year as global business confidence improves.

Beijing Capital Co, a wastewater disposal firm, jumped by the daily limit of 10 percent to 5.07 yuan and Tianjin Capital Environmental Protection Group Co also surged 10 percent to 6.18 yuan after China said it will invest 350 billion yuan to curb air pollution.

We recommend:

New vehicles unveiled at Canadian Int'l Auto Show

Video: Facebook targeted by hackers

Sanya duty-free shops see surging sales

Juniper buries doubts on boom

3D printing reshapes manufacturing

Hongyanhe nuclear power station in NE China

Email|Print|Comments(Editor:MaXi、Liang Jun)

Leave your comment0 comments

  1. Name


Selections for you

  1. Special policemen in training

  2. Festive atmosphere on missile speedboat

  3. Pakistanis mourn for victims of deadly blast in Quetta

  4. Impressive moments of Beijing since 1950s

  5. Exploring top private clubs in China

  6. Employees punished to run half-naked

  7. Mo Yan's Our Jing Ke: Downfall by design

  8. Glamor Zhang Xinyi's street style

  9. Facebook targeted by hackers

  10. Online money transfers soared

Most Popular


  1. How to build new type ties between big powers?
  2. Diplomacy to help China become global power
  3. Commentary: China sees Africa as true friend
  4. Mind your manners
  5. Football penalties 'too soft'
  6. Juvenile crime rules 'hard to follow'
  7. CCTV's Spring Festival Gala: Glory days gone
  8. Who cares for the village doctors?
  9. The weakening yen's impact on China
  10. Young climbers aim too high in China

What’s happening in China

Surrealistic impression shown in fog

  1. Companies struggle to find, keep workers
  2. City bids farewell to young hero
  3. Overfishing depleting sea resources
  4. Shanghai experiences sudden baby boom
  5. Emission limits enhanced