New zones send shares 1.82% higher
Print Edition
SHANGHAI stocks yesterday closed near the 4,300-point mark as the opening of new free trade zones in China buoyed regional companies.
The Shanghai Composite Index gained 1.82 percent to 4,293.62 points.
China yesterday officially launched the three new FTZs. Officials expect the new zones in Tianjin as well as provinces of Fujian and Guangdong to boost economic reform, promote trade and facilitate investment in new areas.
Regional companies gained. Tianjin Hi-Tech Development Co rose 3.1 percent to 8.97 yuan (US$1.45), Tianjin Quanyechang Co added 2.87 percent to 10.02 yuan, and Guangzhou Baiyun International Airport Co climbed 4.18 percent to 14.94 yuan.
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