Stocks climb on military White Paper
Print Edition
SHANGHAI shares rallied strongly to end at a renewed seven-year high yesterday as China’s military strategy White Paper gave a boost to the country’s military product manufacturers.
The Shanghai Composite Index rose 2.02 percent to 4,910.9 points, the highest since January 21, 2008.
China yesterday released its ninth White Paper since 1998 on military strategy, stressing active defense and pledging closer international security cooperation.
The White Paper on “China’s Military Strategy,” issued by the State Council Information Office, outlined a strategy that unifies strategic defense and operational and tactical offense.
It is the first White Paper to specify strategy and highlights four “critical security domains” of ocean, outer space, cyberspace and nuclear force.
Investors got the cue to pursue shares of the military industries, with aeronautical companies leading the surge.
China Spacesat Co rallied by the daily 10 percent limit to 75.65 yuan (US$12.19), Aerospace Communications Holdings Group Co surged 9.99 percent to 21.80 yuan, as did Shaanxi Aerospace Power Hi-Tech Co to 41.18 yuan.
Minsheng Securities said China’s newly announced “Made in China 2025” industrial blueprint emphasizes military equipment manufacturing.
- 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.
