Shanghai shares rise on gains made by firms related Xiongan New Area

China "will promote the Xiongan New Area to the world this year" as part of efforts to reform and open up the area.

Shanghai stocks rose today, as shares related to Xiongan New Area gained as China was drafting measures to reform and open up the area.

The Shanghai Composite Index edged up 0.51 percent to close at 3,288.41 points.

Market sentiment rose after Chinese Foreign Minister Wang Yi said "China will promote the Xiongan New Area to the world this year." 

Chen Gang, director of the Xiongan New Area administrative committee, also said today that China is mapping out related policies and measures for the reform and opening up of Xiongan New Area.

"At present, a number of major infrastructure projects are underway in Xiongan New Area. This year, we will focus on the overall planning, innovation, infrastructure projects, heritage and protection of historic culture of Xiongan New Area," Chen said.

Shares related to the Xiongan New Area gained. Tianjin Capital Environmental Protection Group Co Ltd surged by the daily limit of 10 percent to 13.26 yuan (US$2.09) and Beijing Hanjian Heshan Pipeline Co Ltd jumped 9.98 percent to 18.95 yuan.


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