The opening of China's lunar dog year seems to bring more hope for China's share traders, as the number of new traders of shares took a continuous leap in China's A share market from the beginning of 2006.

 

The increase follows the successive rise of China's shares in the new year.

 

"As a confidence index of share market, the number of new share traders grows in a striking manner in the opening of the year," China Securities Balancing Corporation said.

 

A great number of share traders started flocking into the A share market after the China's shares continued their impressive rise in the first three consecutive days of this year from January 4 to 6.

 

On January 9, 5,275 new share traders registered in the market, doubling that in December last year, according to the corporation.

 

The number continued to fly after the share trading started in China's lunar dog year.

 

Last Monday, the Composite Stock Index on the Shanghai Stock Exchange, which comprises yuan-denominated A shares and foreign-currency B shares, was up to about 30 points on its first trading day after the week-long holiday for China's traditional Spring Festival, the latest statistics of the corporation show.

 

In spite of the shares' sharp fall in the ensuing three days, the A share market still posted more than 7000 new share traders each day, with a peak of 7,897 on the second day.

 

In the same way, the number of securities-holders and securities trade volume also reported a speeding increase, up by three times each day.

 

Chinese share markets closed higher last Friday, which were helped by higher energy share prices and regulator's denial of rumors about the resumption of initial public offerings. Last week was the ninth consecutively that Chinese stock markets closed their trading with higher major share indices.

 

China has revised its Securities Laws and Corporate Laws as part of its effort to improve corporate governance and crack down on irregularities, and its share reform launched last April has been going on smoothly.

 

(Xinhua News Agency February 15, 2006)