Index will track companies paying dividends
29 December 2004
Beginning next Tuesday, the Shanghai Stock Exchange will start tracking dividend payouts of the market's 50 top listed companies, including Huaneng Power International, the largest mainland power producer listed in Hong Kong, Baoshan Iron & Steel, the publicly traded unit of the world's sixth-largest steelmaker, and China Petroleum & Chemical Corp, the exchange announced. Bloomberg quoted reaction from one fund manager who said, "The index will tell investors what companies are worth investing in." Liu Xiaohong of Guolian Fund Management added that the system would help companies focus on doing better by their shareholders.