Fu chenghao/Shanghai Daily news

News that a combined 250 billion yuan (US$30.8 billion) is expected to flow into the stock market in the second half powered shares in Shanghai to close higher yesterday.
The shanghai Composite Index, which tracks yuan-denominated A shares and foreign-currency B shares, jumped 26.15 points or 2.37 percent to end at 1,128.74 on turnover of 12.42 billion yuan.
The a-share Index gained 2.35 percent to 1186.07 and the B-share Index soared 4.26 percent to 64.65.
The expected huge influx of funds comes from various sources including equities, insurance capital, social security, corporate pensions, commercial banks and the Qualified Foreign Institutional Investor program, according to a Securities Daily report.
Bank funds totalling up to 25 billion yuan could flow to the bourse till the end of the year as the regulator is boosting its pilot fund management program in commercial lenders, said the report.
Also, the State Administration of Foreign Exchange has yet to map out details of a new round of the QFII program, which will bring in a quota of US$6 billion into the market.
According to an interim report of Shanghai-listed Shenergy Co, two QFII members are ranked as the third and eighth biggest tradable stock holders in the city's major energy supplier, which analysts say signals a positive response from the foreign funds.