Leo zhang/Shanghai Daily news

Shares in Shanghai rose yesterday after a media report said China's state asset watchdog is considering more measures and incentives to ensure the success of the on-going non-tradable share reform.
The shanghai Composite Index, which covers yuan-denominated A shares and foreign-currency B shares, added 0.46 percent to 1,172.47.
The a-share Index edged up 0.46 percent to 1,232.14 and the B-share Index closed 0.64 percent higher at 66.53.
"Government agencies have been working together to move the stock structure overhaul forward," said Zhang Li, a Huatai Securities Co analyst. "It boosted investors' confidence."
The state-owned Assets Supervision and Administration Commission is planning to set up a system to oversee share price fluctuation of listed companies after they convert their non-tradable shares into free-floating stock, Sichuan Finance and Investment News reported yesterday, citing unnamed officials.
The commission may also require listed companies to seek government approval if controlling shareholders plan to dispose of more than 5 percent of their holdings, the paper said.
China on Wednesday extended a state share disposal program to all mainland-listed companies after a trial scheme as the country goes all out to improve corporate governance and seeks ways to cover a pension shortfall.