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BIZCHINA> News
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Stocks lusterless with lowest turnover in June
By Li Zengxin (chinadaily.com.cn)
Updated: 2007-06-29 15:50 While generating higher returns from foreign exchange reserves investment, the new bond will help drain the excessive liquidity in the home market and improve macro-economic control. Many people believed that excessive liquidity is one of the driving forces behind both the country's ongoing economic acceleration and an unprecedented stock boom. China will foster a benign environment for listed companies' sustainable development, said Shang Fulin, chairman of the China Securities Regulatory Commission yesterday. He said public companies have become an important force to push the national economic growth. By the end of 2006, 1,474 listed companies had total assets of 24.5 trillion yuan, net assets of 3.4 trillion yuan and gained a total net profit of 378.1 billion yuan. Last year, 766 companies or 51 percent of the total, distributed 119.8 billion yuan profits among shareholders, up 40 percent over the previous year. Next month, 153 Shanghai-listed companies and 103 from the Shenzhen exchange are expected to disclose their half-year reports, starting from July 7, pioneered by Harbin Dong'an Auto Engine. In the meantime, the mainland and Hong Kong exchanges have started to address the price difference problem of A- and H-shares of a same company listed on both markets. The Hong Kong Hang Seng Index Service Limited signed a contract yesterday with the Shanghai Stock Exchange Infonet Ltd to compile A-share related indices with data from the Shanghai Stock Exchange. According to a source with HSI Service, the company has finished the development of the A-share related services and products. The A plus H index and relevant products will be introduced to the public on Friday after authorization from the Shanghai Stock Exchange. However, whether HSI Service will be allowed to design derivatives like the index futures remains unknown. (For more biz stories, please visit Industries)
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