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Hebei Sailhero Shares Rise on Energy-Saving Sector Prospects

Sept. 8 (Bloomberg) -- Hebei Sailhero Environmental Protection High-tech Co. led gains among Chinese energy-efficiency sector stocks on prospects the government will step up efforts to cut energy consumption.

China’s State Council reiterated its five-year goal of cutting energy use per unit of gross domestic product by 16 percent in a statement on the government’s website yesterday.

“We expect more support policies to come out and more projects to start in different parts of the country in the second half than in the first half,” Wang Haixu and Wu Fei, analysts at Citic Securities Co., wrote in a report today in response to the government statement.

Hebei Sailhero jumped 7.3 percent to 16.86 yuan as of 10:18 a.m. in Shenzhen, the most since Aug. 22. Dalian East New Energy Development Co. advanced 5.6 percent to 27.06 yuan while Shenzhen Green Eco-manufacture Hi-tech Co. rose 2.5 percent to 24.43 yuan.

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To contact the editor responsible for this story: Gregory Turk at gturk2@bloomberg.net

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