The STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, closed 3.23 percent higher at 1,948.21 points on Friday.
The STAR 50 Index, which tracks the 50 largest stocks listed on the board that also meet certain liquidity requirements, closed 2.88 percent higher at 1,652.63 points.
The sci-tech innovation board, commonly known as the STAR Market, was inaugurated in June 2019 at Shanghai Stock Exchange. It is designed to support companies in the high-tech and strategic emerging sectors.
China's STAR Composite Index closes higher Friday
China's "excavator index", a measure of economic health, saw a year-on-year increase in August.
Published on Friday, the rise shows that major projects across China are accelerating construction and stepping up efforts to meet deadlines, with construction activity steadily picking up.
According to the statistics, the operating rate of lifting equipment stood at 75.23 percent, up 5.2 percentage points year on year. While the operating rate of concrete equipment rose by 8.41 percentage points year on year in August.
In August, the operating rate of port equipment increased by 12.42 percentage points year on year. Of which, the operating rate of forklift and reach stacker grew by 15.08 and 10.99 percentage points, respectively, year on year.
This indicates that China's major coastal hub ports and inland ports in west China have both reached peak in operations, showcasing the resilience of China's foreign trade.
Rising “excavator index” reflects recovery of China's infrastructure development
