Shanghai Composite surges on signs of fresh investment

Mainland China equity market closed sharply higher on Tuesday, 19 May 2015, after Beijing unveiled guidelines to reform its economic system in 2015, which includes approval of railway projects and further opening up reform in the capital markets. The Shanghai Composite Index advanced 134.06 points, or 3.13%, to finish at 4417.55 points. The CSI300 index added 156.08 points, or 3.41%, to 4731.64.

China's state-planning agency approved six rail and subway projects on Monday, with a total investment close to 250 billion yuan ($40.30 billion). China's State Council also released guidelines on capital-market reform priorities Monday, touching on areas such as the Shenzhen-Hong Kong Stock Connect, and further liberalizing interest rates and boosting the yuan's global status.

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