Mainland stocks rise to 11-week high
China Daily | Updated: 2012-02-22 08:08
SHANGHAI - Stocks on the Chinese mainland rose to the highest level in 11 weeks as investors speculated the Chinese government will adopt more measures to ease a credit crunch.
Gansu Qilianshan Cement Group Co jumped to the highest in almost three months, pacing gains among companies based in western China, after the government approved a plan to accelerate the region's development.
"There will be more policy easing and more liquidity will be released into the economy," said Wei Wei, an analyst at West China Securities Co in Shanghai. "It still remains to be seen if these policies will be effective in stemming a slowdown in the economy."
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