Fu Chenghao/Shanghai Daily news

Shanghai shares closed marginally higher yesterday boosted by news that the local regulator is clarifying its rules to accelerate a state-share sale plan in an effort to bring back new initial public offerings soon.
The Shanghai Composite Index which tracks yuan-denominated A shares and foreign-currency B shares, closed up 0.02 point at 1,217.28. Turnover fell to 12.90 billion yuan (US$1.59 billion) from 14.98 billion in the previous session.
The A-share Index gained 0.01 points to 1,279.24 while the B-share Index added 0.04 points to 68.98.
The Shanghai Stock Exchange is considering giving priority to stocks tracked by the SSE 180 Index that contribute more than 60 percent of the total market capitalization. The move is to speed up the government-holding-cut plan, the National Business Daily said.
A regulatory official said the country may allow new IPOs when companies that take 60 to 70 percent of the market capitalization finish the share sale plan, the newspaper said.
"The market has been awaiting new IPOs for a long time," said Lin Xuenong, an investment manager at Huaxia Securities Co.
"The news helped but the index felt pressure when trying to head further north as it now stands at a five-month high."
Shenergy Co, a major local power producer, surged 3.79 percent to close trading at 6.03 yuan.