Shares of companies based in southeastern Fujian province stage a strong rally, with Fujian Cement, Fujian Sanmu Group,China Wuyi and Zhongfu Straits surging the by the daily limit of 10%.
The rally came after the central government disclosed details of its plan to make Fujian a zone for integrated development with Taiwan, including financial market initiatives.
Beijing will encourage Taiwanese companies in Fujian to list on Chinese stock exchanges, according to a statement jointly issued by the Communist Party of China’s Central Committee and the State Council on Tuesday.
It said Beijing will support innovative ways of cross-strait capital cooperation and encourage the setup of an integration development fund, without providing further details.
