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PBOC policy report helps shares edge up
Print Edition
SHANGHAI stocks rose yesterday as a central bank report signaled deeper efforts to create financial stability.
The Shanghai Composite Index added 0.51 percent to close at 3,157.7 points.
The People’s Bank of China released late on Tuesday its monetary policy report for the fourth quarter of last year, which said reforms in China’s economic structure had made progress, with stable employment and consumption helping economic growth.
The report said it will continue to practice its prudent monetary policy plus implementing short-term measures to ensure normal liquidity.
The report said the central bank will also push financial institutions to provide a lower financing cost for agriculture and small enterprises.
Winsan (Shanghai) Industrial surged 9.99 percent to 12.44 yuan (US$1.99), Shanghai Chinafortune Co added 7.39 percent to 10.90 yuan, and Tianjin Songjiang rose 6.18 percent to close at 7.39 yuan.
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