Fu Chenghao/Shanghai Daily news

Shanghai stocks rose for the third day on optimism of a 20-billion-yuan (US$2.47 billion) inflow into the market after the names of 37 institutions to operate equity investment of corporate pension funds were released.
The benchmark Shanghai Composite Index, which tracks yuan-denominated A shares and foreign-currency B shares, surged 3.66 points or 0.33 percent to close at 1,107.70 on turnover of 12.78 billion yuan. The A-share Index added 0.31 percent to 1,164.06 while the B-share Index gained 2.40 percent to 62.93.
The Ministry of Labor and Social Security unveiled the names of the 37 companies late Tuesday, 78 days after it began receiving applications. The ministry assured firms which failed to get the final nod that it has not closed the door on them.
According to the rules, 20 percent of the nation's 100 billion yuan or so of corporate pension funds can be used to buy stocks.
China's move to allow corporate pension funds to flow into the stock market doesn't appeal to many firms so far, as most firms favor investing in the money market or bond products that are less risky.
"There's still a long road (for the corporate pension funds inflow program) to go," said Liang Jing, a Guotai Junan Securities Co analyst. "I expect  several billion yuan, not much, will flow into the market before year's end."