Electricity powers stocks
Print Edition
SHANGHAI stocks yesterday rose for the third straight day as talks of reform gave a boost to the power sector.
The Shanghai Composite Index gained 0.76 percent to 2,391.08 points.
GD Power Development jumped 10 percent to 2.83 yuan (46 US cents), Datang Huayin Electric Power gained 9.93 percent to 4.43 yuan, and Huadian Power International rose 9.92 percent to 4.32 yuan.
On Tuesday, the National Development and Reform Commission, China’s top economic planner, met to discuss reforms in the electric power sector.
The reform is likely to end the State Grid’s monopoly to buy and sell electricity and allow private enterprises to distribute and sell electricity.
It is believed that the state-owned companies will be told to shift its focus to building infrastructures and providing electricity services.
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