Leo Zhang/Shanghai Daily news

Shanghai stocks fell yesterday after a state-share disposal program was extended to the whole board, spooked by concern companies' compensation may fail to cover investors' losses.
The Shanghai Composite Index, which covers yuan-denominated A shares and foreign-currency B shares, shed 0.12 percent to 1,188.21.
The A-share Index also eased 0.12 percent to 1,248.71 and the B-share Index dipped 0.38 percent to 67.28.
"Minority shareholders are waiting for more impressive compensation," said Liu Yu, an Orient Securities Co analyst. "Companies are usually not generous when issuing preliminary plans, leaving room for negotiations with investors."
Forty companies yesterday unveiled proposals to trim government stockholdings, marking the spread of structural overhaul to all mainland-listed firms. The country initiated the program in May. Thus far, 45 out of 46 pilot companies had their plans approved during trial sales.
China Minsheng Banking Corp, the country's first privately controlled lender, said major shareholders will give 4.55 shares to public investors for every 10 held in exchange for the right to dispose of state ownership.
Shanghai Automotive Co's minority share owners will receive 3.4 shares for every 10 held.
Trading of the 40 companies was suspended yesterday pending changes in compensation packages. Plans cannot be revised once trading resumes.