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雄安概念(xióngān gàiniàn): Xiongan concept stocks

China Daily | Updated: 2017-04-18 07:39

The announcement of the plan for a new zone in North China's Hebei province, 100 kilometers from Beijing, gave an immediate boost to China's stock market.

The share prices of companies located in the counties that are earmarked for the Xiongan New Area and companies involved in transportation, construction materials and infrastructure construction soared after the news was released. These stocks have become known as "Xiongan concept stocks".

However, in recent days the securities supervision authorities have enhanced supervision measures to prevent financial risks, and investor optimism about these Xiongan concept stocks has faded. After the resumption of trading on Monday, the prices of more than 20 Xiongan concept stocks plunged by more than 5 percent.

The Shanghai stock exchange pointed out that the establishment of Xiongan New Area is a significant opportunity for listed companies, and the authorities also encourage and support listed companies participating in the construction of the New Area. However, the supervision authorities will pay great attention to the Xiongan concept stocks and resolutely curb any excessive speculation.

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