Related News
Rail projects lay tracks for climb in key index
By Ye Zhen |
September 7, 2012, Friday
|
Print Edition
Print Edition
SHANGHAI stocks yesterday rose for the first time in three days, bolstered by railway-related counters after China approved 25 subway projects to boost spending on infrastructure to shore up the nation's sluggish economy.
The Shanghai Composite Index gained 0.7 percent to close at 2,051.92 points.
The National Development and Reform Commission, China's top economic planner, has given the green light to the projects, 23 of which involve a total investment of 832.6 billion yuan (US$131 billion).
An HSBC report said yesterday that spending on the projects may boost the annual growth of investment in infrastructure to 20 percent this year from 15 percent now, which will offset the negative impact from weak demand in real estate and exports.
China Railway Erju Co rose 8.5 percent to 6.52 yuan and China Railway Construction Co jumped 4.2 percent to 4.49 yuan.
Jinxi Axle Co, a provider of railway parts, surged by the daily limit of 10 percent to 10.74 yuan. China CNR Co and CSR Corp, the nation's train makers, rose 4.4 percent to 3.53 yuan and 4.04 yuan.
The Shanghai Composite Index gained 0.7 percent to close at 2,051.92 points.
The National Development and Reform Commission, China's top economic planner, has given the green light to the projects, 23 of which involve a total investment of 832.6 billion yuan (US$131 billion).
An HSBC report said yesterday that spending on the projects may boost the annual growth of investment in infrastructure to 20 percent this year from 15 percent now, which will offset the negative impact from weak demand in real estate and exports.
China Railway Erju Co rose 8.5 percent to 6.52 yuan and China Railway Construction Co jumped 4.2 percent to 4.49 yuan.
Jinxi Axle Co, a provider of railway parts, surged by the daily limit of 10 percent to 10.74 yuan. China CNR Co and CSR Corp, the nation's train makers, rose 4.4 percent to 3.53 yuan and 4.04 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
