BEIJING
Derek Rivers Color Rush Jersey , Feb. 2 (Xinhua) -- Chinese stocks closed higher Friday led by coal and cement sectors.
The benchmark Shanghai Composite Index went up 0.44 percent to close at 3,462.08 points. The Shenzhen Component Index closed 0.56 percent higher at 10,925.16 points.
The ChiNext Index, tracking China's NASDAQ-style board of growth enterprises, gained 0.3 percent to end at 1,702.43 points Friday.
Combined turnover on the two bourses stood at 462.8 billion yuan (73.8 billion U.S. dollars), down from 567 billion yuan the previous trading day.
Nearly 1,200 stocks gained among the two bourses with coal and cement sectors leading the rise.
Shanxi Coking surged by the daily limit of 10 percent to close at 13.71 yuan and Gansu Shangfeng Cement rose by the daily limit of 10 percent to end at 12.91 yuan.
Listed companies in China reported rapid profit growth in 2017 as the country's supply-side structural reform began to bear results.
Most companies in traditional sectors such as coal and steel posted strong growth on the back of the country's economic restructuring and business environment improvement.
Nineteen out of 20 companies that have released 2017 reports in the coal sector saw profit growth as China continues to slash excess coal capacity and product prices increase.
BEIJING, Dec. 21 (Xinhua) -- China's Ministry of Commerce (MOC) Thursday voiced opposition to the European Union's new anti-dumping methodology, saying it was imposing "misleading" standards for enterprises.
"Every country enjoys the right to choose its own development path, which should be respected by the international community," said MOC Spokesperson Gao Feng when commenting on the new EU anti-dumping methodology and its report accusing China of significant market distortion.
The EU has recently released new anti-dumping rules that remove the former distinction between "market and non-market economies" for calculating dumping. Instead, the rules require the proving of the existence of a "significant market distortion" between a product's sale price and its production cost.
It has also published a report on China, claiming that there were "significant distortions" within the economy.
"Practice has fully proven that China's socialist market economy with Chinese characteristics accords with China's reality and its economic development in the new era, and it has won positive evaluation from many other countries," Gao said.
"EU leaders have repeatedly expressed hopes that they want China-EU economic and trade relations to be sound and stable...which has so far maintained good momentum," he said, citing figures that bilateral trade between the two sides has climbed 12.7 percent in the Jan.-Nov period.
"China hopes the EU side would 'walk the talk' and guide its enterprises in a right way to truly protect China-EU trade and economic cooperation," Gao said. "China reserves its rights under the WTO dispute settlement mechanism and will take necessary measures to protect its legitimate interests."
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