Five-Year Plan aids rise in shares

SHANGHAI - Mainland stocks gained, driving the benchmark index above the 3000 level for the first time since April, as technology and consumer companies rose on speculation that the industries will gain from the country's next Five-Year Plan.

Tsinghua Tongfang Co, a computer manufacturer, jumped by the 10 percent daily limit and Sanan Optoelectronics Co gained 4.7 percent after the government said information technology will form a bigger part of the economy. Gree Electric Appliances Inc and SAIC Motor Corp paced gains by companies reliant on consumer spending after the authorities pledged to increase household incomes as part of the next economic plan.

"China is shifting from a labor-intensive economic model to more higher-valued industries," said Mark Tan, a Singapore-based portfolio manager at UOB Asset Management Ltd, which oversees about $12 billion. "The five-year plan is a road map to where we can expect higher growth."