Fu Chenghao/Shanghai Daily news

On optimism of a slew of positive news, Shanghai's benchmark index finished above the psychologically important 1,100-level yesterday after recent deep corrections.
The Shanghai Stock Exchange is collaborating with the central bank on market supervision, such as sharing information like providing credit records of high-ranking officials at listed companies by the exchange to the bank, both said.
Also, central bank officials and banking regulators were quoted by the Shanghai Securities News as saying China should widen fund-raising channels for brokerages and increase avenues for bank funds to enter the capital markets.
The Shanghai Composite Index, which tracks yuan-denominated A shares and foreign-currency B shares, rose 1.36 percent to 1,104.79 on turnover of 8.4 billion yuan. That compared with the previous session's 6.6 billion yuan.
The A-share Index surged 1.36 percent to 1,161.49 while the B-share Index rallied 1.57 percent to 60.35.
"Most market heavyweights performed strong after the news, but I don't think the index could advance much further," said Lin Xuenong, a Huaxia Securities Co analyst.
Shanghai Pharmaceutical Co jumped 1.55 percent to 3.92 yuan (48 US cents) after a news report said the country's biggest drugmaker has submitted an application to Tamiflu maker Roche for a license to produce the antiviral drug.
Big cap China Unicom, the country's No. 2 mobile carrier, finished 1.17 percent higher at 2.60 yuan while Sinopec, Asia's top refiner, added 0.75 percent to 4.02 yuan.
Meanwhile, China has chosen 42 firms in seven industries, including steel and coal, for trial development of its "recycling economy" to tackle a steady rise in demand for energy resources by funding them in some related projects.
Listed companies involved in the trial were in demand yesterday with Jinan Iron & Steel Co surging 1.74 percent to finish at 4.68 yuan and Baotou Aluminum Co adding 1.70 percent to close trading at 3.58 yuan.
Jiangxi Copper Co surged 2.37 percent to 4.76 yuan and Inner Mongolia Baotou Steel Union Co jumped 2.20 percent to 4.19 yuan.