Dai Qian/Shanghai Daily news

Shanghai shares dipped yesterday amid profit taking after investors took advantage of the nearly 5 percent growth in the index in two weeks.
The Shanghai Composite Index, which tracks both yuan-dominated A shares and hard-currency B shares, dipped 0.43 percent to 1,221.46. The index hit a record high since September by touching 1,231 in the early session. The A-share index lost 0.42 percent to 1,283.09 while the B-share index eased 0.95 percent to 71.80.
Big caps were pretty much hit, with China Petroleum & Chemical Corp, Asia's top oil refiner, off 1.5 percent to 4.61 yuan (57 US cents), while Shanghai Pudong Development Bank dropped 2.71 percent to 10.42 yuan.
Baoshan Iron & Steel Co, China's largest steelmaker, dipped 0.98 percent to 4.04 yuan and China Southern Airlines Co, the nation's biggest carrier by fleet, lost 2.05 percent to 2.86 yuan.
Meanwhile, retailers remained attractive as sales were encouraging during the Christmas and New Year blitz. Analysts predicted the shares will rise further as another sales peak is about to emerge in the runup to the Chinese New Year holiday, which starts on January 29.
"The period from New Year to the end of the Chinese New Year holiday will be bigger as consumers, armed with gift cards, are returning to department stores to buy more," said Lin Li, an analyst at Xiangcai Securities Co.
"And it's a tradition to buy more snacks and clothes when Chinese are preparing for the lunar New Year."
Harbin Churin Group Jointstock Co Ltd was the top gainer when it climbed 4.86 percent to 1.94 yuan, followed by Shanghai Brilliance (Group) Co Ltd, the nation's biggest retail group, which added 3.64 percent at 5.98 yuan.
The group, which includes No. 1 Department Store and Oriental Department Store, shopping malls like Shimao International Plaza, and supermarkets like Hualian and Lianhua, has jumped 20 percent since December.