SHANGHAI Jinqiao Export Processing Zone Development closed up 19.12 per cent yesterday, its first day on the Shanghai stock exchange. Shanghai's first B-share listing this year was heavily traded, with a turnover of US$4.9 million, accounting for 83.9 per cent of Shanghai's total B-share turnover. The company, which has A shares listed in Shanghai, saw its B shares close yesterday up 6.58 US cents or 19.12 per cent at 41 cents against an issue price of 34.42 cents. It fared better than the over-all Credit Lyonnais Shanghai B-share index, which dropped 2.21 per cent. A total of 9.13 million Shanghai Jinqiao shares changed hands. Hongkong brokers said the debut was satisfactory, with orders for both buying and selling. The progress of B-share issue and listings in Shanghai have been slow compared with Shenzhen. So far this year, eight companies in Shenzhen have issues B shares, and two were listed. In Shanghai, only Shanghai Jinqiao has issued shares and listed. And B-share trading has not been encouraging. The Credit Lyonnais Shanghai B-share index has slipped from the 1,100 mark in January to 823.37 yesterday.