BEIJING (XFN-ASIA) - China B-shares closed higher in heavy trading on hopes of further government support for the stock market, extending a 3.3 pct rise in the key index yesterday, dealers said.
Finance Minister Xie Xuren said that China will continue to lower the stamp duty for stock trades in 2009 and maintain a freeze on taxes on interest income from savings and stock accounts.
China will also adjust tax rebate and tariff policies to support exporters in labor-intensive and high-tech industries, said Xie.
Inner Mongolia Yitai Coal and retailer Shenzhen International Enterprise led the gains.
The Shanghai B-share Index was up 3.63 points or 3.17 pct at 117.91, while the Shenzhen B-share Index rose 6.60 points or 2.35 pct to 287.18.
The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed up 56.43 points or 3.00 pct at 1,937.15.
Turnover linked to the key index expanded sharply to 69.01 bln yuan from 46.10 bln yesterday.
(1 usd = 6.8 yuan; 7.8 hkd)
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