Chinese Stocks Jump as H Shares Gain Most Since 2011 on Reforms
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China’s stocks rose, with the benchmark index for mainland companies in Hong Kong surging the most since December 2011, after the government pledged to ease the one-child policy and boost private investment as part of the biggest package of economic reforms since the 1990s.
Citic Securities Co. and China Life Insurance Co. rallied more than 8 percent in Hong Kong and Shanghai to lead gains for financial shares. Baby formula maker Zhejiang Beingmate Technology Industry & Trade Co. jumped 3.6 percent. The yuan traded within 0.2 percent of a 20-year high, while the 10-year bond yield rose to the highest level since 2007 as China said it would accelerate steps toward currency convertibility and a freeing-up of interest rates.