Backing for e-commerce lifts equities
Print Edition
SHANGHAI stocks rose yesterday as policy-makers’ new stimulus measures boosted the e-commerce sector.
The Shanghai Composite Index gained 0.41 percent to 3,825.78 points.
China will enhance its e-commerce industry by simplifying administrative procedures and developing links between e-commerce companies and sectors including trade, finance and manufacturing, the State Council said after a meeting presided by Premier Li Keqiang on Wednesday. The government will also implement higher legal and credit standards over online shopping to crack down on cyber crimes so that the e-commerce sector will become attractive for entrepreneurship.
Datang Telecom Technology Co surged 9.13 percent to 28.44 yuan (US$4.59), and Shanghai Potevio Co rallied 9.11 percent to 27.08 yuan.
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