Hopes for Silk Road contracts lift shares
Print Edition
SHANGHAI stocks edged up yesterday as investors were buoyed by the optimism in the infrastructure construction sector which is banking that China will promote global cooperation via more projects at the upcoming APEC meetings.
The Shanghai Composite Index gained 0.03 percent to 2,430.68 points.
A series of APEC meetings, which will be held from today to next Tuesday in Beijing, will discuss details on how to maximize cooperation in the “Silk Road Economic Belt” and “21st Century Maritime Silk Road” concepts that President Xi Jinping presented on his visits to Central Asia and Southeast Asia last year.
For the past year, this “One Belt and One Road” concept has boosted China’s cooperation with countries in the two regions in trade, monetary cooperation, traffic connectivity and people-to-people exchanges.
At the meetings, China will push for the construction of more infrastructure to enhance stronger links for future business cooperation within the Asia-Pacific region.
China Communications Construction surged by the daily limit of 10 percent to close at 6.13 yuan (US$1) as did Metallurgical Corp of China to 2.97 yuan and Longjian Road & Bridge to 4.57 yuan.
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