Briefly

Urbanization effort in Cixi gathers pace

The urbanization of Cixi in Ningbo, Zhejiang province has gathered speed as a participating State-owned builder reported major construction progress on a key livelihood project. According to China Railway 24th Bureau Group Corp, its builders delivered late last month a kindergarten in Xinchenghe area in Cixi. The local government has labeled it as a key livelihood project since it will cater to preschool education and serve people living in the newly developed area of the city. CR24G said more livelihood projects supporting the development of the Xinchenghe area are expected to come up in the short term.

Listed firms record steady performance

Companies listed on China's A-share market maintained steady operations in the first half of the year, data from the China Association for Public Companies showed. The combined operating revenue of the listed companies reached 34.89 trillion yuan ($4.9 trillion) during the period, while their net profits stood at 3.13 trillion yuan, the association said, citing the H1 financial statements of 5,340 firms.

Logistics sector sustains growth

China's logistics sector continued steady expansion in August thanks to growing logistics demand, an industry report showed on Monday. The index tracking the country's logistics market stood at 51.5 percent in August, up 0.5 percentage point from the previous month, according to the China Federation of Logistics and Purchasing. The warehousing index gained 3.7 percentage points compared with the July figure, reaching 50.2 percent in August, data from the federation revealed.

Chinese mainland shares close lower

Chinese mainland stocks closed lower on Monday, with the benchmark Shanghai Composite Index down 1.1 percent to 2,811.03 points. The Shenzhen Component Index closed 2.11 percent lower at 8,172.21 points. The combined turnover of stocks covered by the two indices stood at 705.73 billion yuan ($99.36 billion), down from 876.59 billion yuan recorded the previous trading day.

Xinhua - China Daily