Shanghai's main stock index gave up most of the day's gains to close modestly higher yesterday, retreating from near its 20-day average, which some analysts consider important technical resistance.
Bank of Beijing Co, China's biggest city bank, said profit rose 57 percent in 2007 as the nation's fastest economic growth in 13 years boosted demand for corporate loans and mortgages.
China's telecom industry will undergo a reshuffle in the near future as the government is expected to release the long-awaited license for third generation (3G) technology and restructure the major wireless and fixed-line carriers later this year or next year.
Shanghai copper futures rose for the second consecutive day yesterday, but lagged Wednesday's London Metal Exchange gains because of rising stocks in China.
Chain retailers saw fast growth last year, with mergers and acquisitions helping major players to consolidate their positions.
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Raymond Zhou
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Chen Weihua
