Top stories of the day - China Stock Market - Sept.26
BEIJING, Sep 25, 2013 (Xinhua via COMTEX) --
1. The Chinese government said on Wednesday that it has revised an
investment list and eased administrative procedures to reduce its inte
rvention in the market.
Amendments to a government approved investment list were discussed
at an executive meeting of the State Council presided over by Premier
Li Keqiang, according to a statement released after the meeting.
The old list from 2004 no longer meets economic, scientific and tec
hnological needs, the statement said, adding that revisions are necess
ary to enable the market to play a more important role.
Comment: Easing administrative procedures is expected to spur socia
l investment and boost domestic economy, which is to weigh positively
on the domestic stock market in the long run.
2. 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
However, analysts point out that the market has already reflected t
he news-driven moves related with Shanghai FTZ, and thus alert profit-
taking pressures on related stocks.
3. The 4th China International internet of Things (sensor network)
Expo opened in Wuxi city in eastern Jiangsu province on Thursday, payi
ng much attention to the fields of intelligent Transportation System (
ITS), smart healthcare, and intelligent agriculture.
Industrial insiders project that the internet of things industry's
output value will approach 500 billion yuan this year, and the annual
growth rate will maintain more than 30 percent in the coming three yea
Comment: Relevant internet of things concept stocks are likely to
be spurred by the opening of the China International internet of Thing
s (sensor network) Expo on Thursday. (Edited by Ma Xin, maxin11@xinhu
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