Leo Zhang/Shanghai Daily news

Shanghai stocks rose yesterday after China's central bank governor urged state companies to distribute dividends to investors as part of efforts to bolster corporate governance.
The Shanghai Composite Index, which covers both yuan-denominated A shares and hard-currency B shares, grew 0.26 percent to 1,116.37. The A-share index added 0.26 percent to 1,173.83 and the B-share index gained 0.35 percent to 60.13.
"The (central) banker's remarks helped cheer the market but the upside may be short-lived if no concrete measures pop up towards the end of the year," said Lu Chengde, a Guosen Securities Co analyst.
China's state companies should step up allocating profits as dividends, improving their accounting standards and providing timely information disclosures, said Zhou Xiaochun, governor of the People's Bank of China, at a conference on Sunday.
State-owned and state-controlled companies should distribute dividends, which are part of shareholders' rights, Zhou said.
Shanghai New Huangpu Real Estate Co, a local property developer, jumped 2.35 percent to 3.92 yuan (49 US cents). The company said it will spend 200 million yuan to lease a plot in Beijing for 20 years.
China Petroleum & Chemical Corp added 0.69 percent to 4.39 yuan while Jiangxi Copper Co edged up 0.40 percent to 4.96 yuan.
Yesterday's climb was also paced by companies' plans to compensate in exchange for the right to dispose of government shareholding.