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China to launch three stock indices for central SOEs

(Xinhua)
Updated: 2009-03-16 10:56

BEIJING -- China Securities Index Co (CSI) and the Shanghai Stock Exchange (SSE) will release three stock indices on March 30 to reflect performance of centrally-administered state-owned enterprises (SOEs) publicly listed on the country's two stock markets, CSI and SSE announced Monday.

Related readings:  China to carry out SOE consolidation plan  Stock market swings during the two sessions

The three indices are CSI Central State-owned Enterprises Composite Index (CSI Central SOEs), CSI Central State-owned Enterprises 100 Index (CSI Central SOEs 100) and SSE Central State-owned Enterprises 50 Index (SSE Central SOEs 50).

They are set at 1000 on the base date of December 31 of 2008.

The two bourses, SSE and Shenzhen Stock Exchange, have more than 260 stocks issued by listed central SOEs so far, with a combined market capitalization at more than 7.8 trillion yuan ($1.14 trillion). The figure accounts for 56 percent of total market capitalization of A-shares of the two markets.

The listed central SOEs constitute the pillar of China's national economy covering major industries such as aviation, telecommunication, energy, transportation and finance. They also contribute to the stable development of the country's stock market.

As of March 13, CSI Central SOEs rose 18 percent to 1,178 points from December 31 of 2008. CSI Central SOEs 100 stood at 1,165 points, up 17 percent and SSE Central SOEs 50 gained 14 percent to 1,142 points.