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Shanghai in Name Adds $45 Billion of Value Amid Bubble

Zhang Guangdi has watched the market value of his Shanghai International Port Group Co. shares jump 130 percent since Aug. 22, when China’s commerce ministry said the government approved a free-trade zone in Shanghai.

The 67-year-old retiree says he’ll probably sell the 2,935 yuan ($480) stake when the zone, part of Premier Li Keqiang’s plan to liberalize yuan trading and relax government regulation, opens at the end of this month. The port operator is valued at 25 times profit, a 121 percent premium versus the Shanghai Composite Index, according to data compiled by Bloomberg.