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April 15, 2015

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Home » Business » Finance

‘One Belt, One Road’ concept helps shares

SHANGHAI stocks rose yesterday as China’s “One Belt, One Road” concept boosted transport and construction companies.

The Shanghai Composite Index gained 0.34 percent to close at 4,135.56 points.

China’s initiative of the New Silk Road Economic Belt and the 21st Century Maritime Silk Road has received positive reactions in recent days from other nations including Myanmar, Singapore and the United Arab Emirates.

Industrial Securities said the concept will benefit China’s stock market for three to five years. Shares of maritime companies surged. Ningbo Port Co rallied 7.78 percent to 6.79 yuan (US$1.09), and Zhongchang Marine Co jumped 6.22 percent to 13.49 yuan.

The clean energy sector also received a massive boost after Premier Li Keqiang urged stronger clean energy cooperation with the United States during a meeting with a US business delegation on Monday.

GD Power Development Co surged by the daily 10 percent limit to 5.01 yuan, and Shanghai Huitong Energy Co jumped 9.98 percent to 20.27 yuan.


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