BIZCHINA / Biz Media Digest
Finance: Shanghai Composite Index falls
(China Daily)
Updated: 2007-01-18 09:36
China's stock index slid from a record high after the government said it
would clamp down on the collection of capital-gains taxes on land used in
development projects.
The Shanghai Composite Index dropped 1.49 percent to 2778.90. Poly Real
Estate, China's largest State-owned developer, tumbled the 10 percent
daily limit to 52.03 yuan.
Vanke, the nation's biggest property developer, slumped 10 percent to
17.28 yuan on the Shenzhen Stock Exchange.
China's largest steelmaker, Baoshan Iron & Steel Co, surged to 9.34 yuan
after its parent announced its first local takeover in nine years.
(For more biz stories, please visit Industry Updates)
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Chinese Mandarin
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