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Chinese shares up on healthcare reform plan

(Xinhua)
Updated: 2009-04-07 16:49

Chinese equities rose slightly Tuesday after the government announced long-anticipated health reform plans.

Related readings:  Roadmap must lead back to basics  China to invest 850b yuan in medical reform  China to set up clinics in every village within 3 years  Chinese shares edged down 0.23% led by metals

The benchmark Shanghai Composite Index gained 0.8 percent, or 19.4 points, to close at 2,439.18. The Shenzhen Component Index, however, fell 0.13 percent, or 12.4 points, to 9,232.26.

Gains outnumbered losses by 641 to 275 in Shanghai and 568 to 210 in Shenzhen.

Combined turnover was 181.6 billion yuan ($26.59 billion), down from 241.45 billion yuan on the previous trading day.

China unveiled a blueprint for health care reform over the next decade Monday and followed up with further details Tuesday, kicking off a long-awaited plan to fix the ailing medical system and ensure fair and affordable care for all 1.3 billion citizens.

The reform plan would provide a strong boost to the medical industry, as increased government spending would benefit pharmaceutical companies and medical instrument producers, analysts said.