Stock index launched to help ocean-related sectors

The China Ocean Economy Stock Price Index was jointly released by Ministry of Natural Resources and Shanghai Stock Exchange (SSE) on Tuesday, marking the first index of the kind in the country to cover companies with ocean-related business trading at the Shanghai, Shenzhen, Beijing and Hong Kong exchanges.

The new index, compiled by National Marine Data and Information Service and China Securities Index Co Ltd, has included 213 companies listed at the four bourses. Trading at the SSE, the index will serve as an important indicator of China's ocean economy and help to direct more financial resources to the ocean-related sectors.

With the base date set at Dec 31, 2012, the annualized return of the index is estimated at around 7.5 percent as of Monday, according to the SSE.

The SSE has helped ocean-related companies to expand their operation by seeking financing via issuing bonds or stocks. It will further complete the index product portfolio to help Shanghai consolidate its role as a world center for financial and shipping services, said the SSE.