STOCKS | China Underground Pipeline Shares Surge On State Council Meeting

Shares linked to underground pipeline networks jumped in afternoon trading, with Shunkong Development (003039.SZ), Petrochemical Machinery (000852.SZ) and Guizhou Gas (600903.SH) hitting the daily limit, while Qinglong Pipe Industry (002457.SZ) rose more than 6%, according to ETNet. The move followed a State Council executive meeting chaired by Premier Li Qiang on August 31 that outlined work on urban underground pipeline construction. The meeting called for unified planning, improved systems and mechanisms, and better coordination among gas, water supply, drainage, sewage, heating pipelines and integrated utility corridors as part of urban renewal efforts. Jiang Yinghong, deputy director of the Underground Space Planning Branch of the China Association of City Planning, said the emphasis on unified planning was aimed at breaking down departmental barriers and promoting coordinated multi-network renovation, with the goal of one excavation and multiple network upgrades to avoid fragmented projects and improve overall investment efficiency.