Ningbo Marine shares up 10 pct after govt's plan to boost Yangtze River area

HONG KONG, June 12 Wed Jun 11, 2014 10:36pm EDT

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HONG KONG, June 12 (Reuters) - Shares of Ningbo Marine surged by 10 percent, the maximum allowed, to a 7-week high on Thursday after the State Council announced plans to develop an economic zone along the Yangtze River.

Chinese Premier Li Keqiang said on Wednesday the government should develop an economic zone along the Yangtze River through the construction of a comprehensive transport network, according to the government website. (

Other Chinese port groups also outperformed, with Jiangsu Lianyungang Port climbing 4.9 percent, Ningbo Port up 3.5 percent, and Wuhu Port Storage & Transportation 2.8 percent.

Those rises compared with a 0.1 percent drop in the Shanghai benchmark index.

(Reporting by Grace Li and Donny Kwok; Editing by Paul Tait)