Fu Chenghao/Shanghai Daily news

Shanghai shares rose yesterday, led by blue chips such as Baoshan Iron & Steel Co and China Yangtze Power Co as well as banking stocks that were inspired by profitable interim results from China Merchants Bank Co.
The Shanghai Composite Index, which covers yuan-denominated A shares and foreign-currency B shares, edged up 0.19 percent to 1,150.18. The A-share Index rose 0.19 percent to 1,208.56, while the B-share Index added 0.11 percent to 66.06.
Baoshan Steel gained 0.87 percent to close at 4.62 yuan (57 US cents) while Yangtze Power added 0.39 percent to finish at 7.70 yuan after they completed their state share sale plans and resumed trading this week.
"After Thursday's biggest percentage drop in 10 months, investors still seemed to be calm," said Dai Ming, a Fortune Securities Brokerage Co analyst. "Blue chips performed steady."
Shanghai Automotive Co, the listed arm of the country's biggest carmaker, surged 3.35 percent to 5.25 yuan.
China Petroleum & Chemical Corp, Asia's largest oil refiner, added 0.69 percent to 4.39 yuan.
Meanwhile, the banking sector rebounded yesterday after China Merchants Bank Co reported a 26.4 percent gain in profit in its first half results.
Shanghai Pudong Development Bank Co rose 1.82 percent to 8.38 yuan. Hua Xia Bank Co climbed 0.78 percent to 3.89 yuan and China Minsheng Banking Corp jumped 2.82 percent to 5.46 yuan.