Asset injections boost share prices of SOEs

Despite debates on whether a developing A-share bubble had led to a market slowdown, the main index once again climbs up.

Listed companies' profit growth bolsters stock market

The robust profit rise of Chinese listed companies are giving strong support to the bullish stock market, latest figures show.

Aluminum Corp of China Ltd (Chalco) said it will raise US$644 million by selling bonds of more than one year maturity to fund expansion.

Shenzhen Development Bank Co last week named Xiao Suining as its president, according to a statement.

China Huiyuan Juice Group kicked off its HK$2.8 billion five-day initial public offering yesterday, with strong demand from investors.

China Vanke Co and China Aviation Industry Corp I agreed to set up a 1 billion yuan property development venture.

China Minsheng Banking Corp plans to raise as much as 23.8 billion yuan (US$3.1 billion) selling shares to select investors.

Industrial Bank Co said this week that its 2006 profit surged 51 percent due to growth in loans and fee-based services.

Huadian Power International Corp posted an 8.7 percent gain in profit last year as economic growth spurred electricity consumption.

The Industrial and Commercial Bank of China and China Life are considered to join Hong Kong's benchmark stock index.

Industrial Bank saw its share price end the first day of trading lower than previous expectations amid weakness in the overall market.

Huaxia Bank Co Ltd posted an unaudited 2006 net profit of 1.457 billion yuan (US$188 million), up 13 percent from 2005.