Fu Chenghao/Shanghai Daily news

Shanghai stock market recovered yesterday after a three-day downturn, partly helped by a news report which said the regulator had asked fund firms to improve voting procedure on the share reform proposals.
The Shanghai Composite Index, which tracks yuan-denominated A shares and foreign-currency B shares, rose 1.43 percent to 1,162.80. The A-share Index gained 1.42 percent to 1,222.16 while the B-share Index surged 2.78 percent to 65.05.
The China Securities Regulatory Commission ordered fund companies to allow more senior officials a say when voting on the state share sale proposals in a move to advance the reform, media reports said.
"More or less, this (the news report) helped lift the market," said Wang Xiaomin, a Xiangcai Securities Co analyst.
"Anyway, the rebound is quite technical."
Blue chip Baoshan Iron & Steel Co added 0.9 percent 4.5 yuan (55 US cents) after announcing its first-half net profit rose 49 percent to 7.1 billion yuan, or 0.41 yuan, a share.
Sinopec Corp edged up 0.46 percent to 4.41 yuan while China Yangtze Power Co, which operates the world's largest hydropower project, added 0.90 percent to 7.84 yuan.
Shanghai Bashi Industrial (Group) Co, the city's leading public transport operator, surged 6.12 percent to 3.64 yuan after posting a net profit of 58.6 million yuan in the first half.