| China shares continues winning streak |
| Tuesday,May 22,2007 Posted: 07:55 BJT(2355 GMT) Xinhua |
BEIJING, May 22 -- China shares continued to rise stubbornly Tuesday morning after hitting a new record high the previous day, shrugging off concerns over a raft of tightening policies announced by the central bank last Friday. The key Shanghai index, which covers both A and B shares, opened 0.46 percent higher and passed 4,100 points for the first time in the morning session, ending at 4,114.28 points by noon. Only some 200 out of about 1,400 stocks in both Shanghai and Shenzhen bourses saw prices dropping. Property shares went up following the appreciation of yuan, with China Vanke gaining 3.31 percent to 17.15 yuan and Shanghai-based Shimao Holding Co. up 9.98 percent to 14.22 yuan. But market jitters over updated record prices are also mounting up. The central bank raised the benchmark interest rates and ordered commercial banks to set aside more money as reserves on Friday. "By doing so, the People's Bank of China attempts to impose curbs on excessive investment and the speculative bubble on the stock market, but it is too early to say whether the move will be effective," said Yin Jianfeng, a financial expert with the Chinese Academy of Social Sciences. The central parity rate for the yuan, also known as renminbi (RMB), reached 7.6551 to one U.S. dollar on Tuesday, gaining 101 basis points from the previous day's price of 7.6652 to the greenback. |
 | 2007 China International Beverage Industry Exhibition on Science & Technology 2007-12-03 11:12 |
| The 1st China International Auto Parts Expo 2007-11-29 17:25 |
| China International Automobile Parts Exhibition 2007-11-29 08:30 |
| China International Sewing Machinery & Accessories Show 2007 2007-09-26 09:05 |
| Sweets China 2007 2007-09-05 09:03 |
| Aluminium China 2007 2007-08-28 08:57 |
| China International Die-casting and Foundry Technology and Equipment Exhibition 2007-08-21 16:37 |
| China International Metallurgical Technology and Equipment Exhibition 2007-08-21 16:33 |
| Brew Drinks China 2007 2007-08-16 15:36 |
| Zero-tariff Policy Granted to the Second Batch of Commodities Exported to China of Least-developed Countries of Africa Begins 2007-07-06 14:49 |
All articles marked with "Article type: Original" posted on the website of the Ministry of Commerce and its sub-sites are copyrighted by this Website and its sub-sites. Any reproduction or use by any other websites, media or individuals must be attached with a clear indication of "Source: Ministry of Commerce Website".
All articles posted on this website or its sub-sites marked with "Article type: reproduced" or "Article type: translated" and "Article type: redistributed" come from other media, and are provided solely for the user's information, which does not mean this Website or its sub-sites endorse the ideas thereof or assume any legal liability or responsibility for their authenticity. Any other media, websites or individuals must maintain the source of information indication on this Website or its sub-sites when using the information, and shall assume legal liability for the use.
