Top stories of the day - China Stock Market - Sept.25
BEIJING, Sep 24, 2013 (Xinhua via COMTEX) --
1. China will officially launch the pilot free trade zone (FTZ) in
Shanghai on Sept. 29, taking a solid step forward to boost reforms in
the world's second-largest economy. Preparation work is going smoothly
, sources with the Shanghai municipal government said on Tuesday.
Chinese Premier Li Keqiang said earlier this month that for the pil
ot FTZ, a negative list approach will be explored and priority will be
given to easier investment and greater openness.
2. According to the statistics released by Shenyin&Wanguo Securitie
s, the sales volume of passenger vehicles in the country witnessed yea
r-on-year growth of 11 percent in the first two weeks of September, an
d month-on-month increase of 30 percent.
It is estimated that in the second half month, the domestic passeng
er cars' sales volume would continue to increase rapidly with 16 perce
nt year on year, and the growth rate would maintain the increase of 25
percent this month.
According to the latest data released by the China Passenger Car As
sociation (CPCA), the sales volume of passenger vehicles in China reac
hed 310,000 in August, up 18 percent year on year.
Comment: Automobile sector and relevant shares in China's A-share m
arket are likely to gain support from the pending growth of passenger
cars' sales volume in September in the domestic market.
3. Miao Yu, Minister of Industry and Information Technology (MIIT)
said at PT/EXPO COMM China 2013 on Tuesday that the 4G licenses would
be released officially at the end of this year.
Earlier, Miao said the country had a breakthrough on the research o
f 4G technologies recently, and 4G licenses would be released in the n
ear future. Industrial insiders consider that with the release of 4G l
icenses, many fields of telecommunication industry would confront lots
of challenges and competition. The government was expected to invest
exceeding 300 billion yuan in the coming three years. Relevant sectors
and enterprises would benefit from the movement.
Comment: A-shares related with 4G concept on the Shanghai and Shenz
hen bourses are likely to be boosted by the pending release of 4G lice
nses at the end of this year.
(Edited by Ma Xin, email@example.com)
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