The story appears on

Page A8

February 23, 2017

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Finance

Building materials help index end higher

SHANGHAI stocks yesterday rose for the third straight day to a three-month high as construction material companies were bolstered by China’s plan to expand infrastructure construction.

The Shanghai Composite Index added 0.24 percent to 3,261.22 points.

Sales in the construction sector have rebounded as government infrastructure spending jumped 17.4 percent to 11.9 trillion yuan (US$1.7 trillion) last year, said Qu Wei, an analyst at Shenwan Hongyuan Securities.

“The outlook is also optimistic” given that at least 40 trillion yuan will be invested in infrastructure construction according to plans from 23 provinces, Qu added.

China’s top economic planner approved 18 large fixed-asset investment projects with investment totaling 153.9 billion yuan last month, amid efforts to stabilize economic growth by boosting infrastructure investment.

Zhejiang Jianfeng Group Co, a state-owned cement producer, jumped by the daily limit of 10 percent to 19.31 yuan, as did Fujian Cement Inc to 14.27 yuan.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend