Leo Zhang/Shanghai Daily news

Shares in Shanghai edged higher yesterday, paced by airlines after China allowed carriers to impose jet fuel surcharges on domestic flights for a longer period.
The Shanghai Composite Index, which covers both yuan-denominated A shares and hard-currency B shares, grew 0.14 percent to 1,114.92. The A-share index added 0.15 percent at 1,172.00 while the B-share index ebbed 0.77 percent to 61.53.
"The extra period may help airlines cut down losses linked to surging oil prices this year," said Wu Zhiguo, a Guohai Securities Co analyst. "But they won't possibly swing to profit unless energy costs slump sharply."
China late on Thursday allowed domestic carriers to continue collecting fuel surcharges until the end of March. The carriers started to impose surcharges in August to help cushion soaring oil prices.
They can charge each passenger 20 yuan (US$2.50) for domestic flights under 800 kilometers, and 40 yuan for flights longer than 800 kilometers.
China Southern Airlines Co, the country's biggest carrier by fleet, rose 1.13 percent to 2.68 yuan. China Eastern Airlines Corp, the third largest, added 0.82 percent to 2.47 yuan. Shanghai Airlines Co, the smaller of the city's two carriers, closed 1.23 percent higher at 3.30 yuan.
Hainan Airlines Co, China's No. 4 carrier partly owned by US financier George Soros, jumped 1.64 percent to 2.48 yuan.