Fu Chenghao/Shanghai Daily news

Share prices in Shanghai declined yesterday, led by Baoshan Iron & Steel Co and China Petroleum & Chemical Corp after a newspaper report predicted shrinking earnings for several major industries in the second half.
The Shanghai Composite Index, which tracks yuan-denominated A shares and foreign-currency B shares, fell 1.49 percent to 1,154.43. The A-share Index lost 1.48 percent to 1,213.55, while the B-share Index declined 2.39 percent to 63.62.
Steelmakers, petrochemical companies, coal miners, cement producers and property developers are among those under pressure in response to the central government's macro-control measures, the National Business Daily reported.
The report also said analysts are "not optimistic" over the petrochemical sector, citing surging international crude prices and uncertainties over domestic refined oil prices, which are set by the National Development and Reform Commission.
Shares of China's largest steelmaker, Baoshan Steel, dropped 1.55 percent to 4.46 yuan (55 US cents) while Sinopec, Asia's top oil refiner, plummeted 3.46 percent to close at 4.46 yuan.
Meanwhile, coal miners were affected by the lower demand for energy by steel, petrochemical and building material producers, the report said.
Yanzhou Coal Mining Co, the nation's only overseas listed coal miner, shed 2.79 percent to 6.27 yuan.