Related News
Shanghai shares gain on premier's remarks
By Ye Zhen |
May 15, 2013, Wednesday
|
Online Edition
Online Edition
SHANGHAI stocks ended high today, led by small-cap firms and emerging industries after Premier Li Keqiang called for less government intervention in a market economy.
The key Shanghai Composite Index added 7.79 points, or 0.35 percent, to 2,224.80. Turnover was 66.7 billion yuan (US$10.9 billion) at the trading close.
The government should delegate its power over economic matters and let the market play the lead role in distribution of resources, Li told a nationwide teleconference on Monday. He urged efforts to simplify administrative procedures, lower the threshold for startups, and foster small and medium-sized enterprises.
"Li's remarks promoted market confidence over China's economic transformation and gave a boost to new-growth enterprises," said Gong Dejun, analyst with China Galaxy Securities.
IT firms increased on media reports that the Ministry of Industry and Information Technology and the Ministry of Finance will set up a special fund to spur the development of the Internet of Things industry.
Tsinghua Tongfang Co jumped 3.7 percent to 7.48 yuan. Aisino Co, a computer applications producer, rose 1.7 percent to 13.76 yuan.
Environment-related stocks gained after a white paper released by the Information Office of the State Council said China will give priority to ecological projects. Beijing Capital Co, a company specializing in wastewater disposal, climbed 2 percent to 7.51 yuan. Tianjin Capital Environmental Protection Group Co increased 2.1 percent to 8.93 yuan.
The key Shanghai Composite Index added 7.79 points, or 0.35 percent, to 2,224.80. Turnover was 66.7 billion yuan (US$10.9 billion) at the trading close.
The government should delegate its power over economic matters and let the market play the lead role in distribution of resources, Li told a nationwide teleconference on Monday. He urged efforts to simplify administrative procedures, lower the threshold for startups, and foster small and medium-sized enterprises.
"Li's remarks promoted market confidence over China's economic transformation and gave a boost to new-growth enterprises," said Gong Dejun, analyst with China Galaxy Securities.
IT firms increased on media reports that the Ministry of Industry and Information Technology and the Ministry of Finance will set up a special fund to spur the development of the Internet of Things industry.
Tsinghua Tongfang Co jumped 3.7 percent to 7.48 yuan. Aisino Co, a computer applications producer, rose 1.7 percent to 13.76 yuan.
Environment-related stocks gained after a white paper released by the Information Office of the State Council said China will give priority to ecological projects. Beijing Capital Co, a company specializing in wastewater disposal, climbed 2 percent to 7.51 yuan. Tianjin Capital Environmental Protection Group Co increased 2.1 percent to 8.93 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
