COFCO outlines further mixed-ownership reforms

Shares of three listed units of State-owned China National Cereals, Oils and Foodstuffs Corp rose sharply on Wednesday, after the country's biggest food supplier by volume announced further plans for mixed-ownership reform on Monday.

COFCO Biochemical (Anhui) Co Ltd stocks reached their 10 percent daily limit in early trading hours, and settled at 14.66 yuan ($2.13) per share, up 6.85 percent from the opening price. Another two listed subsidiaries - COFCO Property (Group) Co Ltd and COFCO Tunhe Sugar Co Ltd - also closed more than 3 percent higher than their opening prices.

On the same day, the benchmark Shanghai Composite Index edged up by 0.24 percent.