China Stocks: Citic Bank, CSR Corp., China National Chemical

Shares of the following companies had unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of 11:13 a.m. in Shanghai and Shenzhen.

The Shanghai Composite Index rose 2.4 percent to 2,741.42. The CSI 300 Index increased 2.7 percent to 3,025.30.

China CITIC Bank Corp. (601998 CH) increased 3.8 percent to 5.24 yuan. The bank said 2010 net income may have increased by more than 50 percent from a year earlier, according to a statement to the Hong Kong stock exchange. The non-performing loan ratio continued to decrease last year, it said.

CSR Corp. (601766 CH) rose 5.1 percent to 8.89 yuan. General Electric Co. will sign a pact with China’s CSR Corp. to import high speed railway technology from the Chinese company, the Securities Daily reported today, citing an unidentified person close to CSR Corp.

China International Marine Containers (Group) Co. (200039 CH) jumped 5 percent to 18.01 yuan. The company said it expects 2010 net income to rise by as much as 250 percent to 3.36 billion yuan.

China National Chemical Engineering Co. (601117 CH) surged 9.8 percent to 5.71 yuan. The company won a contract worth 8.3 billion yuan for a coal-to-gas project in Inner Mongolia, according to a statement filed to the Shanghai stock exchange.

GF Securities Co Ltd. (000776 CH) added 4.1 percent to 45.45 yuan. The brokerage has received approval from the China Securities Regulatory Commission to set up five branches in the province of Guangdong, according to a statement to the Shenzhen Stock Exchange.

--Irene Shen. Editor: Darren Boey.

To contact Bloomberg News staff for this story: Irene Shen in Shanghai at +86-21-6104-3049 or ishen4@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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