SHANGHAI Jan 9 China stocks started the week on
a firm note, led by defence stocks as more central state-owned
enterprises (SOEs) mulled plans to push mixed-ownership reforms.
The blue-chip CSI300 index rose 0.5 percent on
Monday to 3,363.90 points. The Shanghai Composite Index
also added 0.5 percent, to 3,171.24 points.
State-owned enterprises reform has been a driver in recent
weeks, as China vowed to push forward mixed-ownership reforms in
key sectors including aviation, defence, oil and
China South Industries Group Corporation has made
preliminary proposals regarding mixed-ownership reforms in
defence enterprises and will launch trial stock ownership plans
in its listed subsidiary Chongqing Changan Automobile
, Shanghai Securities News reported.
An index tracking aerospace defence industry
advanced 3.3 percent, notching its biggest daily percentage gain
in five months.
The market was also boosted by news that China was expected
to have had 6.7 economic growth in 2016, within a targeted range
Most sectors gained ground, led by industry and
AVIC Aircraft closed up 5.3 percent to a
(Reporting by Luoyan Liu and John Ruwitch; Editing by Richard