Shares jump after Xi's remarks on further opening up and commitment to deeper reforms

President's remarks in speech at the Boao Forum for Asia seen as a gesture to ease trade tension between China and the US..
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Shanghai shares jumped on Tuesday after President Xi Jinping said that China would continue to open up further and commit to deeper reform, seen as a gesture that might ease trade tension between China and the US. 

The Shanghai Composite Index rose 1.66 percent to close at 3,190.3 points. 

Xi's remarks in his speech at the Boao Forum for Asia included a wide range of measures such as lowering import tariffs for autos and other products, as well as enforcing legal intellectual property of foreign firms. 

Steel makers led the gains after steel prices rebounded, suggesting a pick up of demand in near future.

Liuzhou Iron and Steel Co surged by the daily limit of 10 percent and Fangda Special Steel Technology Co gained 5.87 percent to 14.06 yuan. 

Transport firms also rose, with Air China up 6.66 percent while China Eastern Airlines added 3.99 percent. 



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