News lift plane makers and green firms
By Winny Wang |
August 5, 2011, Friday
|
Print Edition
Print Edition
SHARES of Chinese aircraft makers and environmental protection firms jumped in the mainland stock market yesterday on media reports they will be included in development plans for seven strategic emerging industries that China is encouraging under the 12th Five-Year Plan from 2011 to 2015.
Jiangxi Hongdu Aviation Industry Co gained 4.6 percent to 33.68 yuan (US$5.23), Hafei Aviation Industry Co added 2.8 percent to 25.92 yuan while Xi'an Aircraft International Corp climbed 2.9 percent to 11.51 yuan.
Shanghai Securities News quoted an unidentified source as saying yesterday that the country will set up a development fund to support the civil aircraft industry under the plan which will end in 2015.
"China is estimated to require 1,000 ARJ21-like regional jets and 2,700 C919-like jumbo jets as well as 230 military aircraft in 20 years, a market value of US$30 billion, US$135 billion and US$16.1 billion respectively," said Sinolink Securities Co.
The government will announce the move in September, the Economic Information Daily yesterday cited an unidentified official from the National Development and Reform Commission, the country's top economic planner.
"The output of the strategic emerging industries is expected to reach 4.3 trillion yuan in 2015 and 11.4 trillion yuan in 2020, so the annual growth should reach 24.1 percent from 2011 to 2015 and 21.3 percent from 2016 to 2020," said Zhou Zixue, chief economist at the Ministry of Industry and Information Technology.
Shenzhen Techand Ecology and Environment Co jumped by the daily limit of 10 percent yesterday on ChiNext to 119.77 yuan. Sound Environmental Resources Co gained 3.48 percent to 24.42 yuan.
Jiangxi Hongdu Aviation Industry Co gained 4.6 percent to 33.68 yuan (US$5.23), Hafei Aviation Industry Co added 2.8 percent to 25.92 yuan while Xi'an Aircraft International Corp climbed 2.9 percent to 11.51 yuan.
Shanghai Securities News quoted an unidentified source as saying yesterday that the country will set up a development fund to support the civil aircraft industry under the plan which will end in 2015.
"China is estimated to require 1,000 ARJ21-like regional jets and 2,700 C919-like jumbo jets as well as 230 military aircraft in 20 years, a market value of US$30 billion, US$135 billion and US$16.1 billion respectively," said Sinolink Securities Co.
The government will announce the move in September, the Economic Information Daily yesterday cited an unidentified official from the National Development and Reform Commission, the country's top economic planner.
"The output of the strategic emerging industries is expected to reach 4.3 trillion yuan in 2015 and 11.4 trillion yuan in 2020, so the annual growth should reach 24.1 percent from 2011 to 2015 and 21.3 percent from 2016 to 2020," said Zhou Zixue, chief economist at the Ministry of Industry and Information Technology.
Shenzhen Techand Ecology and Environment Co jumped by the daily limit of 10 percent yesterday on ChiNext to 119.77 yuan. Sound Environmental Resources Co gained 3.48 percent to 24.42 yuan.
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