‘Made in China’ plan drives shares
Print Edition
SHARES in Shanghai soared over 3 percent yesterday after the Chinese government released a “Made in China” blueprint to boost the country’s manufacturing industries in the next 10 years.
The Shanghai Composite Index surged 3.13 percent to end at 4,417.55 points.
The State Council, China’s Cabinet, unveiled the “Made in China 2025” yesterday to promote and upgrade China’s manufacturing industries.
The 10-year plan aims to upgrade the country from being factory of the world to a leading global player for quality and innovation.
The plan sets out nine tasks including innovation, integration within the information technology sector, fostering Chinese brands, green manufacturing, advances in 10 key sectors, and restructuring in manufacturing, service-oriented manufacturing and manufacturing-related service industries.
The 10 key sectors are new information technology, numerical control tools and robotics, aerospace equipment, ocean engineering equipment and high-tech ships, railway equipment, energy-saving and new-energy vehicles, power equipment, new materials, biological medicine and medical devices, as well as agricultural machinery.
Tianjin Benefo Tejing Electric Co surged by the daily 10 percent limit to 22.74 yuan (US$3.66), as did Qumei Furniture Group Co to 42.69 yuan, and Harbin Gong Da High-Tech Enterprise Development Co to 9.79 yuan.
Shipbuilders also soared after a government statement on Monday said that new-energy ships will be exempt from vehicle and vessel tax to save energy and combat pollution.
CSSC Offshore & Marine Engineering Co surged 9.04 percent to 58.48 yuan, and China CSSC Holdings rose 4.39 percent to close at 54.20 yuan.
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