Ningbo companies surge
By Wang Yanlin |
July 21, 2012, Saturday
|
Print Edition
Print Edition
SHARES of companies based in Ningbo City, Zhejiang Province, surged yesterday after the local government announced new rules to support businesses.
Ningbo United Group Co, Ningbo Construction Co and Fubang (Holdings) Ltd all jumped the 10 percent daily limit. Other Ningbo-based companies also saw their shares increase by a large margin.
The shares rose against a 0.74 percent loss in the benchmark Shanghai Composite Index.
On Thursday night, the Ningbo government released a series of policies to support local businesses, including a tax rebate of up to 40 percent for qualified companies.
Ningbo United Group Co, Ningbo Construction Co and Fubang (Holdings) Ltd all jumped the 10 percent daily limit. Other Ningbo-based companies also saw their shares increase by a large margin.
The shares rose against a 0.74 percent loss in the benchmark Shanghai Composite Index.
On Thursday night, the Ningbo government released a series of policies to support local businesses, including a tax rebate of up to 40 percent for qualified companies.
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