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Port operators and FTZ-related counters lead gainers in Shanghai
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Shanghai’s benchmark stock index today rose 0.46 percent to close at 2,240.81 points, as companies with regard to and Shanghai’s free trade zone got a boost from lucrative deals.
Chinese President Xi Jinping’s visit to Mongolia led to four projects in land transport from Mongolia to China’s sea ports. The cooperation is set to facilitate exports of Mongolia’s minerals to South Korea and Japan via Chinese ports. Ports along China’s northern seas saw shares rise sharply.
Tangshan Port Group rose by the maximum daily limit of 10 percent to 5.12 yuan (83 US cents), while Jinzhou Port increased 9.93 percent to 4.87 yuan.
E-commerce giant Amazon announced on Wednesday that it had signed a deal with the Shanghai FTZ administration. Amazon will open its new e-commerce platform in the area, where innovative policies are expected to boost cross-border online trade. Also today, Agricultural Bank of China said its free trade account business was approved, strengthening the international financial service sector in the zone.
Shanghai Zhangjiang Hi-tech Park Development gained 4.66 percent to 7.64 yuan, while Shanghai International Port added 2.15 percent to 4.75 yuan.
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