August 23, 2016 / 7:21 AM / 2 years ago

China stocks edge up as strength in transport shares offsets property decline

SHANGHAI, Aug 23 (Reuters) - China stocks rose slightly on Tuesday, as transportation and raw material shares were firm on the back of Beijing’s plan to revive its struggling northeast rustbelt, offsetting falls in real estate stocks.

The blue-chip CSI300 index rose 0.2 percent, to 3,341.83. The Shanghai Composite Index also gained 0.2 percent, to 3,089.71 points.

China has rolled out a plan to revive its northeast rustbelt over the next three years, including 127 major investment projects.

The government also unveiled detailed plans to lower business costs in the next several years to aid a slowing economy.

Transportation and raw material shares rose. The healthcare sector were also firm.

But the property sector fell 0.6 percent. (Reporting by Winni Zhou, Nicholas Heath and Samuel Shen)

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