Leo Zhang/Shanghai Daily news

Shanghai shares rose yesterday after media reports said the government will delay unveiling rules to expand its state-share disposal and avoid new share sales in the short-term.
The shanghai Composite Index, which covers yuan-denominated A shares and foreign-currency B shares, gained 0.73 percent to 1,158.60.
The a-share Index grew 0.74 percent to 1,217.56 while the B-share Index shed 0.48 percent to 65.75.
"The news helped assure investors the markets are not likely to be swamped with new equities too quickly," said Li Zhi, a Hualin Securities Co analyst.
China's securities watchdog has postponed publishing rules to extend a program of disposing US$250 billion of state stockholdings in listed firms, Oriental Morning Post reported, citing an unnamed source.
The government was expected to announce such regulations on Saturday, according to earlier news reports.
The china Securities Regulatory Commission doesn't "face pressure from any party" to resume allowing large-cap companies to sell new shares on domestic bourses, China Business News said, citing Shang Fulin, head of the agency.
Resuming initial public offerings will hinge on market sentiment, the report said.
Baoshan iron & Steel Co, the listed unit of China's biggest steelmaker, edged up 0.22 percent to 4.63 yuan (57.2 US cents).