Chinese shares up at midday as medical shares get boost from reform plan

Special Report:Global Financial Crisis

BEIJING, April 7 (Xinhua) -- Chinese equities were 0.49 percent higher at midday Tuesday, led by pharmaceutical and medical shares, after the government announced long-anticipated healthcare reform plans.

The Shanghai Composite Index gained 11.80 points, or 0.49 percent, to finish the morning session at 2,431.57. The Shenzhen Component Index fell 10.91 points, or 0.12 percent, to 9,233.75.

China unveiled a blueprint for healthcare reform over the next decade, kicking off the much-anticipated plan to fix the ailing medical system and ensure fair and affordable care for all 1.3 billion citizens.

The reform plan was a strong boost to medical shares, as the beefed-up government spending was expected to support the business of pharmaceutical companies and medical instrument producers, said analysts.

Wandong Medical, the leading X-ray equipment maker in China, rose 3.87 percent to 8.59 yuan (1.26 U.S. dollars). Jilin Pharmacyjumped 2.99 percent to 8.61 yuan and Renhe Pharmacy rose 8.81 percent to 12.84 yuan.

Coal shares performed strongly on word that coal inventories had begun to fall after major power plants increased coal consumption.

China Shenhua, the nation's biggest coal producer, rose 1.78 percent to 22.30 yuan. China National Coal Group, the second-largest producer, was up 3.92 percent to 9.55 yuan.

Real estate shares fell on profit-taking. Poly Real Estate fell2.03 percent to 22.63 yuan. China Vanke ended 0.69 percent down at8.61 yuan.