Shares rally on news of share sale reform

China shares rebounded on Monday as investors were encouraged by the government's increased efforts to press ahead with reform of state share sales. The benchmark Shanghai Composite Index rose 2.46% to 1,112.288 points. The total turnover in Shenzhen and Shanghai was about 18.4bn RMB (US$2.2 billion), 34% above Friday's total. The China Securities Regulatory Commission have designated 42 domestically listed firms for a second round of flotation of non-tradable shares.