China market shines 0.34% on policy easing speculation

Mainland China share market advanced on Monday, 26 May 2014, on speculation the government will take further steps to prevent the economy from missing its growth target for this year after Premier Li's comments signal looser monetary policy. The benchmark Shanghai Composite ended 6.91 points higher at 2041.48, on turnover of 59.84 billion yuan.

The Chinese Premier Li Keqiang said on Friday that China's economy still faces relatively big downward pressures and timely policy fine-tuning is needed. We should use appropriate policy tools and pre-emptive fine-tuning in a timely and appropriate manner to help resolve financing strains for the real economy, especially small firms' difficulties in financing and high borrowing costs, he said. Such policy fine-tuning should help maintain reasonable growth in money supply and bank credit, he said.

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