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Shares of Ningbo companies surge on support policies
By Wang Yanlin |
July 20, 2012, Friday
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Online Edition
Online Edition
SHARES in companies related to the City of Ningbo in Zhejiang Province surged today after the city government announced new rules to support businesses.
Company stocks including Ningbo United Group Co Ltd, Ningbo Construction Co Ltd and Fubang (Holdings) Ltd in Ningbo all jumped by the 10 percent daily limit while others also grew by a large margin. Their shares rose against a loss of 0.74 percent in the benchmark Shanghai Composite Index today.
On Thursday night, the Ningbo government released a raft of supportive policies to local businesses, including a tax rebate of up to 40 percent for qualified companies, which helped to strengthen expectation for more nationwide easing policies to spur economic growth.
Company stocks including Ningbo United Group Co Ltd, Ningbo Construction Co Ltd and Fubang (Holdings) Ltd in Ningbo all jumped by the 10 percent daily limit while others also grew by a large margin. Their shares rose against a loss of 0.74 percent in the benchmark Shanghai Composite Index today.
On Thursday night, the Ningbo government released a raft of supportive policies to local businesses, including a tax rebate of up to 40 percent for qualified companies, which helped to strengthen expectation for more nationwide easing policies to spur economic growth.
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