China Stock Market: Shanghai Composite Opens 11.72 Points | RYT9

Facebook
Twitter
LinkedIn
Pinterest
Pocket
WhatsApp

The Shanghai Composite Index, China’s stock markets opened positive today. Responding to the news, Shanghai announced measures to revitalize the economy and help businesses affected by the lockdown to control the spread of COVID-19.

The Shanghai Composite Index opened at 3,141.96, up 11.72, or +0.37%.

A statement from the Shanghai Municipality said. Such measures include Tax and fee breaks for businesses affected by the lockdown, allowing all manufacturers to resume operations from June 1, expediting approvals on real estate projects and supporting the Develop new real estate projects, increase car purchase quota, reduce car purchase tax. And subsidize those who buy electric cars, support the construction of infrastructure projects in the railway, port, airport and energy industries, and encourage foreign companies to set up their headquarters and research centers in Shanghai.

These support measures will be in effect until the end of 2022. In addition, Shanghai will ease its COVID-19 testing requirements. From 1 June onwards to support people to be able to return to normal life again after being subjected to strict control measures for up to 2 months


Read Also  London Stock Market: FTSE closed 29.04 points | RYT9
Facebook
Twitter
LinkedIn
Pinterest
Pocket
WhatsApp

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent News

Editor's Pick