Editorial Summary

The Shanghai Composite Index rose 2.18 percent to close at 4,941.8 on Wednesday, while the Shenzhen Composite Index climbs 2.22 percent to close at 1,339.1. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached 86.4 billion Yuan and 39.3 billion Yuan, respectively, after 2.8 trillion Yuan in subscriptions to China Pacific Insurance (Group) Co., Ltd's (CPIC) initial public offering (IPO) retail allotment were unfrozen on Tuesday.

CPIC has set its listing price at RMB 30 per share and will begin trading on the Shanghai Stock Exchange by the end of 2007, reports the Beijing News.

Shares of cement producer Anhui Conch Cement Company Limited (600585.SH) rose 7.72 percent to close at 66.7 Yuan on the Shanghai Stock Exchange, while Chinese home electronics retailer Suning shares (002024.SZ) slumped 2.55 percent to close at 64.2 Yuan on the Shenzhen Stock Exchange on Wednesday.