Shanghai’s reform plan excites investors
Print Edition
SHANGHAI stocks yesterday rose for a fifth consecutive trading day, with investors pursuing local companies that will benefit from the city government’s new development plan.
The Shanghai Composite Index gained 0.94 percent to 3,383.18 points.
Shanghai will accelerate reform and opening-up to maintain a steady economic growth, Yang Xiong, the city mayor, said at the opening of the annual meeting of the Shanghai People’s Congress.
Yang said the city will continue to accelerate innovation in the China (Shanghai) Pilot Free Trade Zone such as improving coordination between the zone’s development and the city’s ambition to become a global financial center.
The government has also identified key projects in science and technology, such as aviation engines, gas turbines, artificial intelligence, new-energy vehicles and smart factories.
Shanghai Jin Jiang International Industrial Investment, Shanghai Jiao Yun and Shanghai Jinqiao Export Processing Zone Development all surged by the daily 10 percent limit to close at 18.69 yuan (US$2.99), 10.76 yuan and 25.96 yuan respectively.
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