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Chinese shares close higher Monday as investors reassured on reform
Last Updated: 2017-03-07 09:36 | Xinhua
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Chinese shares closed higher Monday, with the key Shanghai index up 0.48 percent, after the country's leadership reassured investors on reform.

The benchmark Shanghai Composite Index rose 0.48 percent to end at 3,233.87 points. The Shenzhen Component Index closed 1.2 percent higher at 10,522.28 points. The ChiNext Index, China's NASDAQ-style enterprise board, gained 1.79 percent to close at 1,962.77 points.

The country's leadership on Sunday highlighted economic and social stability in 2017 as vital to maintaining growth, ensuring employment and counteracting risks from both home and abroad.

"Stability is of overriding importance ... we must not allow the red line to be crossed concerning financial security, people's wellbeing, or environmental protection," said Premier Li Keqiang as he delivered a government work report to the top legislature.

Under the prerequisite of stability, China should forge ahead with reforms to seek progress in key areas, Li pledged, cautioning against risks related to non-performing assets, bond defaults, shadow banking and Internet finance.

The artificial intelligence sector led Monday's rally. Csg Smart Science & Technology rose by the daily limit of 10 percent to 23.38 yuan. Shenzhen Sunwin Intelligent also rose 10 percent to 18.01 yuan. Hanwang Technology gained 5.71 percent to 22.6 yuan.

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