Dai Qian/Shanghai Daily news

Shanghai shares dropped yesterday as blue chips stumbled on profit taking.
The Shanghai Composite Index, which groups both yuan-dominated A shares and hard-currency B shares, slid 0.3 percent to 1,252.06. The A share index dipped 0.3 percent to 1,312.73 while the B share index closed down 0.24 percent at 85.63.
Blue chips lost ground due to profit-taking after weeks of gains.
China Petroleum & Chemical Corp, Asia's top oil refiner, fell 1.2 percent to 4.94 yuan (61 US cents). Qilu Petrochemical Corp, following its parent China Petroleum, dropped 2.48 percent to 8.27 yuan.
China United Telecommunications Corp, the nation's second-biggest mobile operator, lost 1.06 percent to 2.8 yuan while Baoshan Iron & Steel Co, China's largest steel maker, edged down 0.98 percent to 4.06 yuan.
But there was strength in the transport sector. Investors were betting transport companies would perform strongly in the peak travel season during the Chinese New Year holiday.
Shanghai's three main public transport companies rose in heavy trading.
Shanghai Qiangsheng Holding Co Ltd added 2.74 percent to 4.12 yuan, followed by Dazhong Transportation (Group) Co Ltd which rose 2.32 percent to 6.17 yuan. Shanghai Bashi Industrial (Group) Co Ltd climbed 1.64 percent to 3.71 yuan.
"The Spring travel peak will bring profit to airlines, long-distance transport companies and ship owners," said Zhang Qi, analyst at Haitong Securities Co.
Shanghai is expected to receive more than 10 million travelers for the first time during the Spring Festival, up 8 percent from last year. About 12 million are expected to take taxis, subways and buses across the city every day during the holiday.
"Many stocks in this sector lost heavily last year and it may be time for them to rebound." Zhang said.