Firms may raise funds for tech innovation

The China Securities Regulatory Commission, the top securities regulator, has released a regulation that enables firms listed on the STAR Market of the Shanghai Stock Exchange to issue securities for financing of high-quality technology public firms. The rule, which came into effect on Friday, allows qualified STAR-listed firms to issue stocks, convertible bonds and other types of securities, with the funds raised to be used in technological innovation. The exchange will complete the review of offering applications within two months while the CSRC will complete the securities registration within 15 working days.

1.05b yuan invested in Xiongan New Area

China has allocated 1.05 billion yuan ($ 148.6 million) to support the high-quality development of the Xiongan New Area. The fund will be invested into major projects related to sanitation, infrastructure construction and ecological protection in the area, according to the National Development and Reform Commission. To implement regular epidemic prevention and control measures, priority will be given to the building of sanitation facilities, such as dismantling center for bulky waste, which helps improve the hygienic conditions of the area, said the NDRC. The investment will be made to prop up infrastructure construction projects concerning transport and gas, while roads and water facilities for designated schools and hospitals will be supported.

Freight trains to, from Europe surge in H1

Freight services between China and Europe through the border port of Ereenhot in North China's Inner Mongolia autonomous region grew by 34 percent to 956 trips during the first six months of this year, local authorities said on Friday. Of these, 414 were outbound trips and 542 inbound, according to the Ereenhot station of exit and entry frontier inspection. The freight trains carried 960,000 metric tons of goods from January to June, up 65.6 percent on a yearly basis.

Xinhua - China Daily