China Market extends gain after upbeat comments by the premier

Mainland China stock market managed to close higher on Wednesday, 16 March 2016, helped by comments from Chinese Premier Li Keqiang, who told at his annual news conference in Beijing that China would "employ innovative means" to support the economy if growth drops out of its normal range. Premier Li said the government would promote market-oriented reforms in the country's financial markets and improve coordination in financial regulation as it pursues a goal of 6.5 per cent average expansion over the next five years. The benchmark Shanghai Composite Index rose 0.21%, or 6.06 points, to 2870.43. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, added 15.29 points, or 0.5%, to 3090.03.

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