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Shanghai Index Inches Higher Monday-July 24
 

China's benchmark Shanghai Composite Index edged up 0.39 percent to close at 3,250.60 points on Monday, driven by robust Fujian FTZ and defense industry stocks.

The Shenzhen Component Index closed 0.38 percent higher at 10,404.22 points.

Total turnover on the two bourses stood at 492.9 billion yuan (about 73.12 billion U.S. dollars).

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 0.22 percent to close at 1,686.44 points.

Shares related to the Fujian FTZ, defense industry and highway transportation surged Monday, with Fujian Expressway up 9.25 percent to 4.37 yuan.

AVIC Aviation High Technology Co., Ltd. and Hongdu Aviation Industry Group rose by the daily limit of 10 percent to 10.77 yuan and 17.51 yuan respectively.

The mood was aided by expectations that China will maintain a high growth rate in the third quarter.

China's economy is likely to grow by 6.8 percent year on year in the third quarter, according to the Chinese Academy of Social Sciences, citing steady consumption and robust infrastructure investment.

However, coal, papermaking and lithium battery shares suffered losses Monday.

The Chinese government has made green development one of its major policy priorities.

The country aims to cap its total energy consumption at 5 billion tonnes of coal equivalent by 2020, according to a government plan for 2016 to 2020. This will amount to a 15-percent reduction in energy use per unit of GDP by 2020.


(www.chinaview.cn 2017-07-25)
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