Stock exchanges waive fees for listed firms

THE three stock exchanges in China have announced certain fee exemptions for listed firms to help shore up growth in COVID-19-affected areas.

The Shenzhen Stock Exchange said Friday it will waive initial and annual listing fees and a shareholder online voting service fee throughout 2022, building on an earlier decision to exempt these fees for listed firms in Shaanxi, Henan and Tianjin. The announcement followed Thursday statements from the Shanghai and Beijing stock exchanges of similar exemptions for listed firms in Shenzhen, Inner Mongolia, Shandong, Jilin and Shanghai, where resurgences of cases have been reported.

Time-honored brands get official support

CHINESE authorities have released a guideline aimed at making the country’s time-honored brands glitter with new vitality, as part of efforts to boost consumption and fulfill people’s need for a better life.

The guideline, jointly issued by the Ministry of Commerce and seven other government departments, detailed measures to invigorate innovation on time-honored brands and unleash demands. Time-honored brand enterprises are encouraged to develop creative cultural products together with relevant institutions, as well as hold culture experience activities and provide customized service, said the guideline.

Integrated circuit industry tops US$158b

CHINA’S integrated circuit industry registered stable growth in 2021 with its sales exceeding 1 trillion yuan (US$158 billion) for the first time, according to the industry association.

The sector’s sales volume surged by 18.2 percent year on year to reach 1.05 trillion yuan last year, data from the China Semiconductor Industry Association showed. In breakdown, sales from the design sector increased by 19.6 percent from a year earlier to 451.9 billion yuan, while that from the manufacturing sector jumped by 24.1 percent to 317.63 billion yuan, the association said.

Futures companies see double net profits

CHINA’S futures market reported solid expansion in February, with its operating revenues and net profits posting double-digit growth.

Net profits of the country’s 150 future companies amounted to 1.06 billion yuan (US$167.1 million), soaring by 98.85 percent year on year, according to the China Futures Association. The operating revenue of these firms surged by 87.74 percent from a year earlier to reach 3.13 billion yuan, the data showed.