Shanghai Daily news

Local shares closed almost flat yesterday as gains by airlines were offset by losses in large-cap chips after a government report indicated the country's fixed-asset investment picked up in April.
"Air carriers were boosted by decreasing crude oil prices," said Liu Yu, an Orient Securities Co trader. "But the newly published investment figures indicate the government might further tighten its austerity measures."
The Shanghai Composite Index, which groups yuan-denominated A shares and foreign-currency B shares, inched up 0.05 percent to 1,103.47.
The A-share Index increased 0.04 percent to 1,158.17 and the B-share Index rose 0.29 percent lower to 69.77.
Crude oil for June delivery dropped on the New York Mercantile Exchange on Wednesday.
China Southern Airlines advanced 4.89 percent to 3.65 yuan (43.98 US cents). China Eastern Airlines Corp leapt 5.76 percent to 3.12 yuan while Shanghai Airlines Co ended at 4.27 yuan, up 4.91 percent.
Investment in factories, roads and other fixed assets jumped 25.7 percent to 1.4 trillion yuan on a yearly basis during the January-April period after increasing 25.3 percent in the first quarter, the nation's statistics bureau said yesterday.
The numbers well outpaced the annual growth target of 16 percent set by the government in March.