Shanghai Stock Exchange News
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China’s stocks rose the most in two weeks, led by property developers and financial companies, after the benchmark index traded at its biggest discount to global markets in more than three years.
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Shanghai Jahwa United Co., a cosmetics and household goods maker, fell by the daily limit in Shanghai trading after the company said Ge Wenyao stepped down as its parent’s chairman.
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The Ministry of Finance, Aluminum Corp. of China Ltd. and Agricultural Bank of China Ltd. are among issuers that may sell bonds denominated in yuan.
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Bright Dairy & Food Co., a Shanghai- based dairy company, said its New Zealand unit Synlait Milk Ltd. is in the process of planning an initial public offering in New Zealand.
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China Railway Corp., Agricultural Bank of China Ltd., the Ministry of Finance and China Development Bank Corp. are among issuers that may sell bonds denominated in yuan.
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China’s home sales transaction value fell 13 percent in April from the previous month as the government’s new property curbs started to take effect.
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The Ministry of Finance, Citic Securities Co. and China Development Bank are among issuers that may sell bonds denominated in yuan.
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Aluminum Corp. of China Ltd., the nation’s biggest producer of the lightweight metal, said it will sell about 8.18 billion yuan ($1.3 billion) of assets, including production plants, mainly to its parent.
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Shanghai Aerospace Automobile Electromechanical Co., a maker of car air conditioners and solar-power parts, plans to sell wholly-owned Jiayuguan Taike Photovoltaic Power Co. for at least 250 million yuan ($40.6 million).
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Growth in Chinese industrial companies’ profits slowed in March, adding to evidence the nation’s economic recovery is losing steam.
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