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1st LD-Writethru: Chinese shares close higher Tuesday

Xinhua, September 6, 2016 Adjust font size:

Chinese stocks closed higher Tuesday, with the benchmark Shanghai Composite Index up 0.61 percent to close at 3,090.71 points.

The Shenzhen Component Index closed 1.55 percent higher at 10,861.5 points. The ChiNext Index, China's NASDAQ-style board of growth enterprises, was up 1.84 percent to close at 2,222.84 points.

Turnover on the two bourses rose to 532.48 billion yuan (79.86 billion U.S. dollars).

Shares related to public-private partnership (PPP) projects, including environmental protection and water conservation rallied. Xuzhou Kerong Environmental Resources Co. Ltd., Zhejiang Weiming Environmental Protection Co. Ltd. and Nanjing CEC Environmental Protection Co. Ltd. jumped by the daily limit of 10 percent to 10.19 yuan, 26.38 yuan and 10.8 yuan, respectively.

PPPs are collaborative projects between governments and private companies that are mainly funded and operated by the latter. A Ministry of Finance official told Xinhua on Friday that more fiscal policies supporting green financing are on the horizon, including those related to fiscal interest deduction and PPP projects.

Shares related to water conservation were also broadly higher. Anhui Water Resources Development Co. Ltd. rose by the daily limit of 10 percent to 10.43 yuan.

Share in energy-saving lighting firms also had a great day. Shares of Shenzhen Jufei Optoelectronics Co. Ltd., Xiamen Changelight Co. Ltd., Foshan NationStar Optoelectronics Co. Ltd. and Elec-Tech International Co. Ltd. all jumped by the daily limit of 10 percent.

Bucking the trend, banking shares weakened. Industrial & Commercial Bank of China, the nation's largest lender by assets, saw a dip in its share price of 1.55 percent to 4.46 yuan. Endi